Nifty 50, Sensex today: What to expect from stock market indices in trade on September 29

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Also Read: 10 things that changed for the stock market overnight - Gift Nifty, US GDP to Accenture’s muted earnings forecast Here’s what to expect from Nifty and Bank Nifty today: The Nifty corrected sharply and was unable to maintain levels above 19,750. “On the daily timeframe, the most recent candle has engulfed the bodies of the preceding few days' candles, which suggests a negative sentiment. The prevailing sentiment continues to favor selling during rallies," said Rupak De, Senior Technical analyst at LKP Securities.

Looking ahead, he believes the Nifty may decline towards 19,250, with immediate support situated at 19,450. Resistance is positioned at the higher end at 19,600. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 29 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 witnessed a resurgence of bearish sentiment as the index declined 287 points to 44,301 on Thursday.

“Strong resistance has formed at the 20-day moving average (20DMA) located at the 45,000 mark. The immediate support on the downside is situated at 44,200, and a breach below this level could trigger further selling pressure, potentially taking the index down to the 43,800 mark," said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities. In this scenario, Shah advises to maintain a “sell on rise" approach as long as the index remains below the 45,000 mark.