Nifty 50, Sensex today: What to expect from Indian stock market in trade on December 18

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global market cues. The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 21,482 level as compared to the Nifty futures’ previous close of 21,558.

Catch Live Market Updates here On Friday, the domestic equity indices continued their bull run to end sharply higher, with the Nifty 50 index closing above 21,450 level. The BSE Sensex jumped 969.55 points, or 1.37%, to end at 71,483.75, while the NSE Nifty 50 settled 273.95 points, or 1.29%, higher at 21,456.65, on December 15. “Technically, with the Nifty surging higher to new life highs, the bulls remain in control.

Further upsides are likely once the immediate resistance of 21,492 is taken out," said Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities. Also Read: 6 things that changed for the Indian stock market over weekend - Gift Nifty, Fed pushback to US business activity pickup However, caution is warranted for the near term as the 14-day RSI at 84.93 is in overbought territory. 14-week RSI is at 75.87, which implies that it is not extremely overbought and there is scope for more upsides in the intermediate term.

Thus, any short-term corrections can be utilized to buy into quality stocks, he added. Here’s what to expect from Nifty 50 and Bank Nifty today: The Nifty’s upward momentum persists with the bulls maintaining control in the market. The Nifty 50 index marked its seventh consecutive weekly gain on December 15 and achieved a new all-time high.