Nifty 50, Sensex Today: What to expect from the Indian stock market in the trade on May 16 | Einsmark news

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Friday amid mixed global clues. The trends on gift Nifty also indicate a positive start to the Indian measure index. The Gift Nifty traded about 25,176 level, a premium of nearly 98 points from the Nifty Futures’ previous closure. The Indian stock market ended sharply on Thursday, with Nifty 50 criterion closing above the 25,000 market. The Sensex rose 1,200,18 points or 1.48%to close at 82,530,74, while the Nifty 50 395.20 points, or 1.60%, higher at 25,062,10. Here’s what to expect from Sensex, Nifty 50 and Bank Nifty Today: Sensex Prediction Sensex jumped 1,200 points to close above the 82,500 point, which is largely positive. ‘There is a bullish candlestick about the daily maps and an upward continuation formation on the intraday cards, indicating a further yield of current levels. We believe that the prospects of the market remain positive, but to be the intraday corrections and the sale of rallies the ideal strategy for day traders, ‘says Shrikant Chrikant Chouhan, lead research, Kotak Securities. At the disadvantage, 82,200 and 81,800 would act as key support zones for Sensex, while 82,800 – 83,000 could serve as key resistance levels for the Bulls. However, below 81,800 the upward trend would become vulnerable, he added. Nifty 50 Prediction Nifty 50 was an excellent upside outline on May 15 and closed the day with a solid profits of 395 points. ‘A long bulls are formed on the daily chart that shows a sharp upside down in the market after a consolidation movement. Back-to-back-long bulls in the last four sessions, with a minor weakness between, indicate that bulls are in control again. The big opening of May 12 remains open after four sessions of its formation and this gap can be considered a bullishay gap, ‘senior technical research analyst at HDFC Securities. According to him, the overall trend of Nifty 50 remains positive and the next upward levels to be watched are about 25,250 and 25,500 in the short term. Immediate support is placed on 24,800. Mehra, technical research analyst, Samco Securities, noted that the Nifty 50 index confirms an outbreak of the NR3 (Narrow Range 3) pattern, suggesting that the beginning of a guiding extension to a phase of consolidation. A robust bullish candle was formed on the daily chart, which emphasizes the bullish prospects. The larger gap between the 9-day and 20-day exponential movement average reflects the acceleration momentum and trend strength. The following resistance is placed near 25,240, a zone that was last tested in October 2024. The relative strength index (RSI) is currently at 66, indicating a healthy momentum with further space to progress before approaching the over -worked area. The support is placed on 24,800. A trend follow-up approach remains suitable for the next session, he added. Bajaj Broking Research emphasized that the Nifty 50 index forms a strong bulls with a higher high signal strength. “Nifty 50 on expected lines has witnessed the purchase of the upper tire of the recent outbreak area (24,400 – 24.600) and firmly closed above the 25,000 levels. We expect the index to maintain the overall positive bias with the immediate obstacle of the entire decline (26,277 – 21.744) and the removal of the recent result, Bajaj) Broker research said in a note. From the stock market, today said that the Nifty can expect 50 support from about 25.020 and can meet resistance between 25,200 and 25.280. 1.01%, closed at 55,355,60, which forms a bullkers with a higher high. and power emphasized and supported positive prejudice. 55.500. In addition, the MACD still keeps in a negative territory, but shows early signs of convergence, and indicates a possible crossrogue as follow -up strength emerges. As long as the index has sustained above 54,850, the trend remains upside down. A definite close more than 55,600 can open the door for a move in the direction of 56.098.70, the recent high of all time, “Mehra said. Disclaimer: The views and recommendations above are those of individual analysts or brokers, and not of currency. We advise investors to watch with certified experts before making any investment decisions.