Latest news with #OmMehra
Mint
18 hours ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 23 after US bombs Iran's nuclear sites
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a negative note on Monday, following mixed sentiment in global markets. The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,986 level, a discount of 125.7 points from the Nifty futures' previous close. Global market cues remain weak on escalation of Israel-Iran after US dropped a 'payload of bombs' on three nuclear sites in Iran, thereby joining the Middle East crisis. In response to US military strikes, Iran's Supreme National Security Council is reportedly weighing a decision to close the Strait of Hormuz, a vital global energy chokepoint. On Friday, the domestic equity market ended with sharp gains, with the benchmark Nifty 50 closing above the 25,100 level. The Sensex jumped 1,046.30 points, or 1.29%, to close at 82,408.17, while the Nifty 50 settled 319.15 points, or 1.29%, higher at 25,112.40. Here's what to expect from Nifty 50 and Bank Nifty today: In the derivatives segment, the highest Call Open Interest (OI) is concentrated at the 25,200 and 25,300 strike levels, suggesting strong resistance around these zones. On the downside, the highest Put Open Interest is observed at the 25,000 and 24,800 strikes, indicating strong support and traders' confidence in defending these levels, said Choice Broking. This setup suggests a likely range-bound movement in the near term, with a positive bias as long as the index holds above the key support levels. Nifty 50 finally witnessed an excellent breakout on June 20 and closed the day higher by 319 points. 'A long bull candle was formed on the daily chart after the formation of narrow range movement on the downside in the last three sessions. This market action is indicating a decisive upside breakout of choppy movement. Nifty 50, on the weekly chart, formed a long bull candle after a sharp weakness of last week and is placed at the upper end of broader high low range. This is a positive indication,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the underlying trend of Nifty 50 is positive, and the next upside level to be watched is around 25,250. 'A decisive breakout of the range could pull Nifty 50 towards the next upside target of 25,650 in the near term. Any consolidation or minor dips down to the immediate support of 24,900 could be a buy-on-dips opportunity,' Shetti said. Om Mehra, Technical Research Analyst, SAMCO Securities, highlighted that the Nifty 50 formed a robust bullish candle on the daily chart. 'Nifty 50 has broken above a declining trendline, which adds further strength to the ongoing bullish momentum. Nifty has also reclaimed both the 9-day and 20-day EMAs, signalling a resumption of the uptrend. The daily RSI, which had been consolidating around the neutral 50 zone, has now turned upward and is placed at 58, indicating improving momentum,' said Om Mehra. On the hourly chart, the formation of higher highs confirms short-term strength and a potential continuation of the upward trajectory. The support levels are placed at 25,000, followed by 24,950, while the resistances are seen at 25,225 and 25,280, he added. According to VLA Ambala, Co-Founder of Stock Market Today, Nifty 50 formed a bullish Marubozu on the daily time frame and a bullish Sandwich and a bullish Marubozu on the weekly time frame. 'We can expect Nifty 50 to gather support between 25,000 and 24,950 and meet resistance between 25,260 and 25,300 in the upcoming intraday trading sessions,' Ambala said. Bank Nifty index rallied 675.40 points, or 1.22%, to close at 56,252.85, forming a strong bullish candle in the daily chart. 'Bank Nifty gained 1.31% last week, rebounding from the prior week's decline and closing firmly above both the 21-day and 55-day EMAs — indicating renewed short-term strength. RSI stands at 64, reflecting bullish momentum. Gains were further supported by the RBI's relaxation in project financing norms, which lifted sentiment in financial stocks. The index is holding well above the crucial 56,000 support; below this, 55,400 is the next level to watch,' said Puneet Singhania, Director at Master Trust Group. On the upside, he believes 56,500 remains the key resistance — breakout above it could lead to a rally toward 57,100. Traders should watch for price action near support zones for potential entry opportunities. Bajaj Broking Research said that the Bank Nifty formed a bull candle with a higher high and higher low and a firm closing above the 56,000 levels. 'We expect the index to maintain positive bias and head towards 56,700 and 57,400 levels in the coming weeks. The immediate bias remains positive above 55,500 levels. The daily 14 periods RSI has generated a buy signal thus validates positive bias in the index,' said Bajaj Broking Research. 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 making any investment decisions.
Mint
5 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 19 after US Federal Reserve policy
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to extend losses and open lower on Thursday after the announcement of the US Federal Reserve policy, and cautiousness amid the ongoing Israel-Iran war. The trends on Gift Nifty also indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around 24,740 level, a discount of nearly 87 points from the Nifty futures' previous close. The US Federal Reserve decided to keep the benchmark interest rates steady at 4.25% to 4.5%, while the Federal Open Market Committee (FOMC) officials expect to cut the interest rates by a total of 50 basis points (bps), or 0.50%, in 2025. On Wednesday, the domestic equity market extended fall for the second straight session to end lower. The Sensex declined 138.64 points, or 0.17%, to close at 81,444.66, while the Nifty 50 settled 41.35 points, or 0.17%, lower at 24,812.05. Here's what to expect from Nifty 50 and Bank Nifty today: Nifty 50 slipped 0.17% to end at 24,812.05, forming a daily candle with a high wick on the upper side with a small body. 'Nifty 50 again failed to surpass the crucial resistance level of 25,000, concluding the session on a weak note. Despite this intraday pressure, the Nifty remains in a consolidation phase positionally, with 24,700 now serving as a key support level on the downside. On the higher side, the 25,000 level continues to act as a strong resistance,' said Nandish Shah - Deputy Vice President, HDFC Securities. According to Om Mehra, Technical Research Analyst, SAMCO Securities, the Nifty 50 index remained within a tight consolidation band as it has struggled to cross the 25,000 zone over the past few sessions. The absence of follow-through buying reflects hesitation at higher levels. 'Nifty 50 slipped below the 20 EMA, while the broader trend remains intact as the price trades above the 50-Day SMA. The daily RSI has declined further to 53 and continues to exhibit a downward trend from its recent peak of nearly 62. This slope also confirms a bearish divergence, as the price maintained highs but momentum failed to support the move. The ADX remains below 25, and the +DI has now decisively crossed below the –DI, suggesting a weakening trend strength,' Mehra said. A breach below 24,680 could accelerate short-term weakness, while resistance remains at 24,940, followed by 25,000, he added. VLA Ambala, Co-Founder of Stock Market Today said that the Nifty 50 formed a Bearish Shooting Star pattern at the daily time frame, closing the session in the red zone. 'According to technical charts, Nifty 50 was near the 20-day EMA, with its RSI at 52. Nifty 50 could gather support between 24,650 and 24,520 and meet resistance near 24,850 and 24,890,' Ambala said. Bank Nifty index closed 114.60 points, or 0.21%, higher at 55,828.75 on Wednesday, forming a small bull candle with a small upper shadow, signaling consolidation. 'Going ahead, only a sustained close above the 56,000 mark could pave the way for further upside towards the 56,600 and 57,000 levels. However, inability to surpass this hurdle may result in continued range-bound price action between 56,000 and 55,000, with a likely shift in focus to stock-specific moves,' said Bajaj Broking Research. According to the brokerage firm, on the downside, a decisive break down below the 55,000 mark would invalidate the current consolidation structure and open the gates for a retest of the key support zone in the 54,500 – 54,000 region in the coming sessions. Om Mehra highlighted that the Bank Nifty index respected the trendline drawn from the May lows and continues to hold above the Supertrend level of 55,000. 'The daily RSI stands at 53, recovering from lower zones but still below the 60 mark, reflecting a cautious undertone. Meanwhile, the MACD remains in negative territory, but the flattening histogram indicates a neutral stance. The overall formation suggests that the Bank Nifty index is caught between a rising support trendline and a falling resistance trendline, forming a short-term contraction. A directional move is likely once either side is breached. Until then, the price may continue to oscillate within the 55,200 – 56,200 range,' Mehra said. 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 making any investment decisions.
Time of India
6 days ago
- Business
- Time of India
Stocks to buy today: Indus Towers, Tata Elxsi among 6 trading ideas for 18 June 2025
The Indian market is likely to consolidate on Wednesday, tracking mixed global cues. The Nifty50 index closed 93 points lower at 24,853 on Tuesday. Indian VIX fell nearly 3% to close at 14.40 in the previous session. The daily Relative Strength Index (RSI) has eased to 52, down from recent peaks, suggesting a loss of momentum but not a reversal yet. Meanwhile, MACD remains in negative crossover mode, reflecting the consolidation phase. Technically, the Nifty50 is holding above the 20-day SMA at 24,830, but failed to reclaim the 25,000 zone, which continues to act as a stiff hurdle. 'The price action is largely sideways within a narrow band, showing indecision post the recent recovery,' Om Mehra, Technical Research Analyst, SAMCO Securities, said. 'The immediate support is seen at 24,700, followed by 24,650. On the upside, the 25,000-25,170 range remains a key resistance band; a close above this level may revive bullish sentiment,' he added. The Nifty Bank ended the session at 55,714.15, down 0.41% on Tuesday, forming a mild bearish candle after facing resistance near the 56,000 zone. We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas told ETBureau Chambal Fertilisers & Chemicals Ltd: Buy| Target Rs 572| Stop Loss Rs 545 Asahi India Ltd : Buy| Target Rs 787| Stop Loss Rs 738 Indus Towers Ltd : Buy| Target Rs 411| Stop Loss Rs 382 Expert: Kunal Bothra, Market Expert told ETNow PB Fintech Ltd : Buy| Target Rs 1990| Stop Loss Rs 1920 Tata Elxsi Ltd : Buy| Target Rs 6800| Stop Loss Rs 6250 Supreme Industries Ltd : Buy| Target Rs 4770| Stop Loss Rs 4560 ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) ETMarkets WhatsApp channel )
Mint
6 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 18?
Nifty 50, Sensex today: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower Wednesday, tracking weak global market cues. The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 24,834.50 level, a discount of nearly 34.3 points from the Nifty futures' previous close. On Tuesday, the domestic equity market ended lower, with the benchmark Nifty 50 closing below 24,900 level. The Sensex declined 212.85 points, or 0.26%, to close at 81,583.30, while the Nifty 50 settled 93.10 points, or 0.37%, lower at 24,853.40. Here's what to expect from Nifty 50 and Bank Nifty today: Nifty 50 formed a bearish candle after facing resistance near the 25,000 – 25,170 zone on June 17. 'Nifty 50 is holding above the 20-day SMA at 24,830, but failed to reclaim the 25,000 zone, which continues to act as a stiff hurdle. The price action is largely sideways within a narrow band, showing indecision post the recent recovery. The RSI slipped to 53 from higher zones, showing a lack of momentum. Meanwhile, MACD remains in bearish territory, with a negative histogram and continued divergence from the signal line, highlighting subdued strength. The Bollinger Bands are narrowing and trading closer to the midline, hinting at a possible contraction before a decisive move,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, the immediate support is seen at 24,700, followed by 24,650. On the upside, the 25,000 - 25,170 range remains a key resistance band; a close above this level may revive bullish sentiment. Nandish Shah, Senior Derivative & Technical Research Analyst, HDFC Securities, noted that the Nifty 50 failed in its attempt to breach the crucial resistance level of 25,000, concluding the session on a weak note. 'Despite this intraday pressure, the Nifty 50 technically remains in a consolidation phase positionally. Traders should keep a close eye on 24,700, which is likely to act as a key support level on the downside,' said Shah. VLA Ambala, Co-Founder of Stock Market Today said that the Nifty 50 formed a Dark Cloud Cover Candlestick pattern on the daily chart, signaling a potential pause or reversal in the recent uptrend. 'We can expect the Nifty 50 to gain support between 24,730 and 24,650 and meet resistance near 25,080 to 25,150 in today's market session,' Ambala said. Bank Nifty ended 230.75 points, or 0.41% lower at 55,714.15, forming a bear candle on the daily chart signaling profit booking around 56,000 levels amid acceleration of the geopolitical tension in the middle east. 'Going ahead only a sustained close above the 56,000 marks could pave the way for further upside towards the 56,600 and 57,000 levels. However, inability to surpass this hurdle may result in continued range-bound price action between 56,000 and 55,000, with a likely shift in focus to stock-specific moves,' said Bajaj Broking Research. On the downside, a decisive break down below the 55,000 marks would invalidate the current consolidation structure and open the gates for a retest of the key support zone in the 54,500–54,000 region in the coming sessions. Key supports are placed around 54,500-54,000 levels being the confluence of the 50 days EMA and the key retracement area of the previous up move (53483-57049), the brokerage firms added. Om Mehra noted that the Bank Nifty index is hovering near its 20-day EMA and the midline of the Bollinger Band, signalling a zone of congestion with the decline trendline. 'The daily RSI has eased to 52, down from recent peaks, suggesting a loss of momentum but not a reversal yet. Meanwhile, MACD remains in negative crossover mode, reflecting the consolidation phase. The support is seen at 55,350, and a breach below this zone may push the index toward 55,000. The resistance is capped near 56,100, followed by 56,200, where the upper Bollinger Band is placed,' Mehra said. Until a clear breakout on either side occurs, Nifty Bank may remain range-bound, with a slight bearish tilt unless it closes decisively above 56,100, 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 making any investment decisions.
Mint
10-06-2025
- Business
- Mint
Nifty Bank pulls back after record high; key support seen at 56,100, upside target 57,900
After scaling a record high in the previous session, the Nifty Bank index witnessed profit-booking on Tuesday, June 10, slipping around half a percent in intra-day trading. The index touched a high of 57,015.4 earlier in the day before declining, marking a pause in its recent bullish momentum. The fall followed a sharp rise spurred by the Reserve Bank of India's (RBI) aggressive 50 basis points rate cut announced last Friday, marking the third straight reduction in 2025. The central bank's monetary easing measures—especially the unexpected cut in the cash reserve ratio (CRR)—have been widely seen as a major liquidity booster for the banking sector and broader economy. The RBI's six-member Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, voted 5:1 in favor of reducing the repo rate by 50 basis points to 5.5 percent. Additionally, the central bank cut the CRR by a full 100 basis points to 3 percent, releasing approximately ₹ 2.5 lakh crore into the banking system. This was the most significant CRR cut since March 27, 2020, when a similar measure was implemented to combat the economic fallout of the COVID-19 pandemic. With this latest move, the RBI has slashed interest rates by 100 basis points in total this year, having initiated the easing cycle with a 25 basis point cut in February, followed by another in April. Importantly, the RBI has also shifted its policy stance from 'accommodative' to 'neutral', signalling that further decisions will be driven by incoming data. The rate cut and liquidity infusion had prompted several banks to reduce their Marginal Cost of Funds based Lending Rate (MCLR), bolstering hopes of enhanced credit flow and driving banking stocks higher in recent sessions. Despite Tuesday's mild pullback, the underlying technical structure of the Nifty Bank index remains strong. According to Om Mehra, Technical Research Analyst at Samco Securities, Nifty Bank's recent breakout from a month-long ascending triangle pattern is a key bullish signal. The index's surge past the congestion zone suggests strong conviction among market participants. The index continues to trade above key moving averages, with the daily Relative Strength Index (RSI) at 69 and the weekly RSI at 68—indicating strength without breaching overbought levels. Mehra also pointed out a bullish divergence on the RSI, lending further weight to the bullish trend. Meanwhile, the Moving Average Convergence Divergence (MACD) has formed a fresh bullish crossover above the zero line, a technical pattern typically seen before extended uptrends. In sectoral performance, the Nifty Private Bank index has reclaimed the 28,150 mark, while the Nifty PSU Bank index is consolidating around 7,218—each contributing to the overall resilience in banking. Holding above the breakout zone of 56,100–56,200 is critical for sustaining bullish momentum. A move beyond 57,120 could trigger a fresh rally towards the 57,700–57,900 zone, which aligns with the 0.618 Fibonacci projection level. However, a breach below the support zone could invite short-term mean reversion, offering new entry opportunities with a more favorable risk-reward ratio. Overall, the Nifty Bank index may have slipped from record highs in today's trade, but the broader outlook remains firmly positive. Backed by RBI's aggressive monetary support, easing liquidity conditions, and favorable technical indicators, the banking space appears poised for further gains. Investors and traders will closely monitor key support and resistance levels, with the sector's momentum likely to resume if macroeconomic cues and earnings trends remain supportive. 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 making any investment decisions.
