Nifty 50, Sensex today: What to expect from Indian stock market in trade on December 19

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global market cues. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 21,465.00 level as compared to the Nifty futures’ previous close of 21,466.00.

Catch Live Market Updates here On Monday, the domestic equity indices ended lower amid profit booking after markets set a new high last week. The Sensex declined 168.66 points to close at 71,315.09, while the Nifty 50 settled 38.00 points, or 0.18%, lower at 21,418.65. Nifty 50 formed a doji kind of candlestick pattern after a sideways move.

Also Read: India stock market: 6 things that changed for market overnight - Gift Nifty to rising crude oil prices “Zooming into the 15 min charts, we can observe that the Nifty has been making lower tops today and has also closed below the 20 period Moving Average (MA). This is a weak signal for the very near term. Nifty could now test the 50 period MA currently at 21,388 in the very near term," said Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities.

He believes that the markets have taken a breather after the sharp rise seen last week. So any corrections are likely to be short lived and can be utilized to buy into quality stocks. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Here’s what to expect from Nifty 50 and Bank Nifty today: Coming to the Open Interest (OI) data, on the call side, the highest OI observed at 21,500 followed by 21,600 strike prices while on the put side, the highest OI is at 21,300 strike price, noted Deven Mehata, Research Analyst at Choice Broking.