Stock market today: Trade setup for Nifty 50 to global cues, five stocks to buy or sell on Friday — June 14

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Stock market today: Despite weak global market sentiments on the hawkish US Fed meeting outcome, the Indian stock market ended higher for the third straight session. The Nifty 50 index finished 75 points higher at 23,398, and the BSE Sensex scaled 204 points north and ended at 76,810.

However, the Bank Nifty index went off 48 points and closed at 49,846. Cash market volumes on the NSE rose about 7% to ₹1.29 lakh crore.

The broad market indices rose more than the Nifty even as the advance-decline ratio fell to 1.52:1.On the outlook for Nifty today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The short-term trend of Nifty continues to be range-bound with a positive bias. Previously, such sideways range movements at the higher tops eventually resulted in a downward correction in the market from the highs.

Nifty continued to face stiff resistance around 23,400 to 23,500 levels, and immediate support is at 23,280 levels."Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 14Speaking on the outlook for the Bank Nifty today, Neeraj Sharma, AVP Technical and Derivatives Research at Asit C Mehta, said, "The Bank Nifty index opened with a gap up but subsequently lost momentum and finally closed the day on a negative note at 49,847. Technically, the Bank Nifty, on a daily scale, has formed a bearish Marubozu candlestick pattern following the formation of a tri-star doji, indicating weakness.