Stock market today: What to expect from Nifty, Sensex, Bank Nifty in trade on September 5

livemint.com:

Indian stock market is likely to open lower on Tuesday following weak global cues. The trends on Gift Nifty also indicate a weak start for the Indian benchmark index. The Gift Nifty was trading at around 19,593 level as compared to the Nifty futures’ previous close of 19,614.

The equity benchmark indices, Sensex and Nifty, ended higher for a second consecutive day on Monday lifted by positive global cues. The Nifty index continued with follow-through upside and closed the day higher by 94 points at 19,529. Nifty formed a small positive candle on the daily chart with a long lower shadow.

“Technically, this pattern indicates the formation of a doji type candle pattern, but not a classical one. Having formed such a pattern after one session of rise, one may expect less impact on the negative side for the market for the short term," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. He believes Nifty is currently in an attempt of showing an upside breakout of the down sloping trend line around 19,500 levels.

Also Read: 5 things that changed for market overnight: Gift Nifty, China slowdown to global market cues for Sensex today Here’s what to expect from Nifty and Bank Nifty today: Nifty continues to stay in the bullish territory as the index has maintained its position above the channel breakout level. “The trend is expected to stay positive as long as it remains above 19,525. On the upside, the index could potentially extend its gains towards 19,750.