Nifty 50, Sensex today: What to expect from Indian stock market in trade on January 12
Catch Live Market Updates here On Thursday, the equity benchmark indices ended the volatile session with marginal gains. The Sensex rose 63.47 points, or 0.09%, to close at 71,721.18, while the Nifty 50 settled 28.50 points, or 0.13%, higher at 21,647.20. Nifty 50 formed a small negative candle on the daily chart with minor lower shadow.
Technically, this pattern indicates a range bound action in the market below the immediate resistance. Also Read: Indian stock market: 10 key things that changed for market overnight - Gift Nifty, US inflation to IT sector Q3 results “The market is now placed at the hurdle of a down sloping trend line, which connected recent lower highs at 21,725 levels. Having showed a false downside breakout at 21,500 levels on Wednesday, the Nifty is expected to reach up to the upper trajectory of 21,750-21,850 levels in the near term.
A decisive move above the hurdle of 21,850 could open sharp upside momentum," said Nagaraj Shetti, Senior Technical Research Analyst, HDFC 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!) Here’s what to expect from Nifty 50 and Bank Nifty today: Nifty shifted into a consolidation with positive bias on Thursday and closed the day higher by 28 points. “Nifty faced selling pressure within the 21,700-21,750 range, yet found stability as it held above its 10-day moving average, concluding the session with a positive close.
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