Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 26
Sensex surged 712.44 points, or 0.92%, to close at 78,053.52, while the Nifty 50 settled 183.45 points, or 0.78%, higher at 23,721.30.Also Read: Indian stock market: 8 things that changed for market overnight - Gift Nifty, Nvidia shares to US consumer confidenceNifty 50 formed a long bull candle on the daily chart, which is indicating a possibility of decisive upside breakout of broader range movement at 23,600 - 23,700 levels. “One may expect upside momentum to pick up in the short term.
The short-term trend of Nifty remains positive. The market is now showing early signs of upside breakout in the near term.
The next upside levels to be watched are around 24,000," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.Also Read: Stock market today: Four stocks in F&O ban list on June 26Here’s what to expect from Nifty 50 and Bank Nifty today:Nifty 50 index witnessed a sharp upmove on June 25 and closed the day higher by 183 points. The index registered new highs of 23,754 and closed near the highs.“The Nifty continues to rise on the back of strength in the banking giants.
The Nifty moved above 23,700 to make a new all-time high of 23,754, showing resilience amid global sluggishness. Put writers were very active at 23,600 and 23,700, while call writers unwound their positions, causing the PCR to rise.
In the short term, the trend might remain strong as long as it stays above 23,500," said Rupak De, Senior Technical Analyst, LKP Securities.On the higher end, he believes the index might continue moving towards 24,000 in the near term.VLA Ambala, Co-Founder of Stock Market Today advises hedging positions to cushion risks where the valuations are very high. She believes Nifty could gain support between
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