Nifty 50, Sensex today: What to expect from stock market indices in trade on October 13
Also Read: 6 things that changed for the stock market overnight - Gift Nifty to US inflation Here’s what to expect from Nifty 50 and Bank Nifty today: Nifty 50 remained in a range-bound pattern after a flat opening on Thursday. “We can expect the market to continue this range-bound movement until Nifty makes a decisive breakout either above 19,850 or below 19,750.
A clear breakout above 19,850, it could potentially propel Nifty towards the 20,000 level," said Rupak De, Senior Technical analyst at LKP Securities. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The Bank Nifty index consolidated and ended 82 points higher at 44,599.
“The Bank Nifty index continued its consolidation phase, encountering resistance at 44,700 and support at 44,400. The overall market sentiment remains bullish, and any dips should be considered as opportunities to initiate fresh long positions.
The target is 45,000, where the highest open interest exists on the call side," said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 13 Shah expects a break above 44,700 to accelerate upward momentum, driven by fresh short-covering activities.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions."Exciting news! Mint is now on WhatsApp Channels
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