Stock market today: What to expect from Nifty, Sensex, Bank Nifty in trade on September 15
Indian stock market indices are likely to open on a positive note Friday following strong cues from global peers. Asian markets traded higher, while the US stock market closed in the green overnight. The trends on Gift Nifty also indicate a higher start for the Indian benchmark index.
The Gift Nifty was trading higher at around 20,235 level as compared to the Nifty futures’ previous close of 20,187. On Thursday, the Indian equity indices witnessed minor gains with the benchmark Nifty closing above 20,100-mark. The Sensex gained 52.01 points to close at 67,519.00, while the Nifty settled 33.10 points higher at 20,103.10.
Nifty formed a small negative candle on the daily chart with minor upper and lower shadow. “Technically, this market action hints at a formation of spinning top type candle pattern at the new highs. However, having placed this candle pattern within a narrow range of 20,150-19,950 levels, the chances of further consolidation movement is likely in the short term," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Also Read: 6 things that changed for market overnight: Gift Nifty, ECB rate hike to global market cues for Sensex today Here’s what to expect from Nifty and Bank Nifty today: After moving into new all time highs above 19,990 levels, the market seems to have struggled to move decisively into new all time highs over the last few sessions. “Hence, any decline from here could drag Nifty towards the immediate support of around 19,950 levels. A decisive upmove above 20200 levels is expected to pull Nifty towards another hurdle of 20450 levels," Shetti said.
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