NIFTY 50, SENSEX TODAY: What to expect from the Indian stock market in trading on August 20

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Wednesday, detecting poor global market ways. The tendencies on gift Nifty also indicate a negative start to the Indian measure index. The Gift Nifty traded about 24,965 level, a discount of nearly 68 points from the Nifty Futures’ previous closure. The domestic stock market ended on Tuesday, with the benchmark indices expanding the fourth consecutive session. The Sensex rose by 370.64 points, or 0.46%, to close at 81,644,39, while the Nifty scored 50 103.70 points, or 0.42%, higher at 24,980.65. Here’s what to expect from Sensex, Nifty 50 and Bank Nifty Today: Sensex Prediction Sensex has formed a bullish candle on daily maps and an upward continuation formation on intraday cards, indicating a further return from current levels. ‘For day traders, as long as Sensex trades more than 81,300, the upward wave is likely to continue on the higher side, and possibly the upward start to 82,000 – 82.300. Under such circumstances, the traders may prefer to leave their long positions, ‘says Shrikant Chrikant Chouhan, Head Equity Research, Kotak Securities. Nifty OI data in the options segment, the highest Nifty Call Open interest is seen at 25,000 and 25,500, which marks key resistance zones, while placing the highest placed stake at 24,900 and 24,800, indicating strong support levels. “The combined technical and derivatives indicate that the bias of the market remains positive. A definite close more than 25,000 can cause fresh momentum. Traders are advised to stay careful, use declines to pick up quality shares and to protect positions with appropriate stop loss,” said Mandar Bhojane, senior technical and derivative. Broking. Nifty 50 Prediction Nifty 50 index forms a bullish candlestick pattern that was closed within the previous session price class, which indicates the consolidation with positive bias while being above the 20- and 50-day EMA. “A fairly positive candle is formed on the daily map with a minor upper shade placed next to the red candle of Monday. This market action indicates a range under the hindrance of 25,000 levels. The sharp opening of the months of Monday remains two sessions after its formation. This gap can now be considered a bullish breakaway gap, formed normally in the important bottom, ‘says Nagajaj, Nagajaj, Nagtij, Seneme, Senior Technical Research, but on the prominent, say night, night, night, nights, nights, Night, Night. HDFC Securities. Therefore, he expects Nifty 50 to move further in the short term and reach the upside down target of 25,300 in the short term. Immediate support is placed on 24.850. Supeep Shah, main technical and derivative research research at SBI Securities, noted that the Nifty 50 index still shows strength on the technical front, and it is comfortable above its short-term and long-term moving averages-a sign of a sustained bullish sentiment. The 14-period RSI on the daily map is on a rising track and remains above the 9-day average, strengthening the positive momentum. “Given this setup, we believe that the Nifty 50 index is well positioned to expand its upward journey in the near term. Key resistance levels to look at are 25,150 and 25,300, which can be tested if the current momentum continues. retained at the same time. In general, he believes that the technical indicators propose a continuation of the northward move, with dips likely to attract the purchase of interest. According to Nilesh Jain, head – technical and derivative research analyst (Equity Research), Center Broking Ltd., the overall market structure remains supported by improving momentum indicators and oscillators, which indicates the probability of continuing strength in the upcoming sessions. “Immediate support has now moved higher to 24,800, while the 21-DMA will act as an important short-term support at 24,770. As long as Nifty 50 holds above this level, a buy-to-dip approach is recommended,” Shah said. to form a bullish candle on the daily map. The daily candle closed above the 38.2% retreat (55,860), but remained below 50% (56,150). The RSI has improved and is rand to the midline, while the MACD has given a positive crossover. Samco Securities. On the hourly frame, the price is back above VWAP (55.813), with a shallow range of higher lows, indicating a base. The bank Nifty index could face resistance near 56,100 – 56.150, while a move above this zone would lift the index higher, he added. “The support is placed on 55,600, followed by 55,500. Until Nifty Bank closes decisively above 56,150, the prospects remain careful, and any intraday increase can resist. A buy -on -dip approach is reasonable,” Mehra said. The previous session -prize consolidation in the sessions of signals was, amid positive prejudice. Only a movement outside this series will indicate the next directional kick. Key Support Area 54,800 and 55,000 -A region corresponding to the 100 -days EMA and the most important Fibonacci retracement of the preceding upward move. On the higher side resistance, approximately 56,000 – 56,300 series, which corresponds to the recent outbreak area and the 50% recovery of the total decline (57.628 – 54.905), added. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.