Nifty 50, Sensex today: What to expect from Indian stock market in trade on March 13
Sensex gained 165.32 points, or 0.22%, to close at 73,667.96, while the Nifty 50 inched 3.05 points, or 0.01%, higher to settle at 22,335.70. Also Read: Indian stock market: 8 key things that changed for market overnight - Gift Nifty, US inflation to oil prices Nifty 50 formed a neutral candlestick pattern on the daily chart after a bearish engulfing, signaling ongoing bearish pressure in the market. “The bearish Evening star pattern formed in the previous session has not yet been negated.
Nifty could now stay in the 22,224 - 22,526 band for the near term. Adverse breadth data is weighing on the minds of investors and traders," said Deepak Jasani, Head of Retail Research, HDFC Securities. Here’s what to expect from Nifty 50 and Bank Nifty today: Analyzing the Open Interest (OI) data, the call side displayed the highest OI at 22,500, followed by 22,600 strike prices.
On the put side, the highest OI was observed at the 22,000 strike price, noted Mandar Bhojane, Research Analyst at Choice Broking. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — March 13 The Nifty 50 index ended flat at 22,336 on March 12 amid high volatility and formed a long legged doji candle. “The Nifty index experienced a volatile trading session with an ongoing battle between the bulls and bears.
The formation of a doji candle suggests indecisiveness at current levels, and a breakout on either side could lead to trending moves. The immediate resistance for Nifty is at 22,500, and a break above this on a closing basis would signal a resumption of the upward movement," said Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities. Conversely, Shah believes the immediate support is positioned at 22,200 - 22,150, and
. Read more on livemint.com
