Nifty 50, Sensex today: What to expect from Indian stock market in trade on January 5

livemint.com:

Sensex rallied 490.97 points to end at 71,847.57, while the Nifty 50 closed 141.25 points, or 0.66%, higher at 21,658.60. Nifty 50 formed a small positive candle on the daily chart, which is placed within a high low range of Wednesday’s bear candle. Also Read: Indian stock market: 7 key things that changed for market overnight - Gift Nifty to US private payrolls data “Technically, this could be considered as a bullish inside day type candle pattern.

Hence, more upside in the next session is likely to confirm this bullish pattern. The positive chart pattern like higher tops and bottoms is intact on the daily chart and the swing low of last session is expected to be a higher bottom of the sequence," said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities. According to Shetti, the short-term trend of Nifty 50 seems to have reversed on the upside after two sessions of minor weakness and the Nifty 50 sustaining above 21,550-21,600 levels could possibly open the next upside towards 21,850-21,900 levels and higher in the near term.

(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: The Nifty 50 recovered from two bearish days which indicates continued dominance by the bulls in the market. “The present sentiment suggests a promising trajectory towards 21,800-21,850 for the Nifty. If it surpasses 21,850, we might anticipate a further climb toward 22,000.