Stock market today: What to expect from Nifty, Sensex, Bank Nifty in trade on August 22

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Also Read: 6 things that changed for market overnight: Gift Nifty, Treasury yields, Arm IPO to global market cues for Sensex today Here’s what to expect from Nifty and Bank Nifty today: The Nifty index exhibited a positive tone as it maintained levels above the crucial support point of 19,250. “A breach below this level could potentially spark unease within the market, causing concerns among investors. However, as long as the index holds above the 19,250 mark, there is a potential upward trajectory towards the 19,500 level.

A confident breakthrough above 19,500 has the potential to catalyze a sustained and substantial market rally," said Rupak De, Senior Technical analyst at LKP Securities. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 22nd August The Bank Nifty index rose 151 points to 44,002 on August 21. “The Bank Nifty saw a recent attempt by bulls to defend the support around 43,750, coinciding with the 100DMA.

Maintaining this support suggests a bullish stance for the index. Immediate resistance lies at 44,200. A breakthrough could pave the way for further gains towards 44,500," said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

The momentum indicator, RSI, trading in oversold territory, signals the potential for a bounce from current levels. This factor should not be disregarded, he added. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!