Stock market today: Trade setup for Nifty 50 to US Fed rate; five stocks to buy or sell on Tuesday — June 18

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Stock market today: The Indian stock market continued to move into a narrow range movement with a positive bias and ended higher on Friday last week. The Nifty 50 index gained 66 points and closed at 23,465, while the BSE Sensex surged 181 points and ended at 76,992.

The Bank Nifty index finished 155 points higher at 50,002. Cash market volumes on the NSE were higher at Rs.1.35 lakh crore.

The broad market indices rose more than the Nifty even as the advance-decline ratio fell to 1.39:1.On the outlook for Nifty today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "Nifty continued to show range-bound action within 23,300 to 23,500 levels, and still, there are no early signs of any breakouts on either side. A decisive move above 23,500 levels is likely to open an upside breakout, and a slide below 23,300 levels could mean a chance of a downside breakout of the range movement in the near term."Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 18On the outlook for the Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities, said, "Bank Nifty recovered from the initial hiccup and rose steadily throughout the day to close at 50,002, up 155 points.

Strong put writing was observed at the 50,000 Strike in Bank Nifty. At the same time, the call writers (Bears) too gave a tough fight to the put writers (Bulls) at the 50,000 Strike, leading them marginally at Friday's close.