Mumbai: India's benchmark indices, Sensex and Nifty 50, are expected to experience a flat opening on October 15, influenced by mixed global cues. The Gift Nifty indicates a muted start, trading at 25,240, a premium of nearly 5 points from the previous close.
Previous Session Highlights
- Sensex rallied 591.69 points to 81,973.05
- Nifty 50 settled 163.70 points higher at 25,127.95
- Bank Nifty index outperformed, ending 644.60 points higher at 51,816.90
Technical Analysis
Experts predict a sustainable upside breakout for Nifty 50 if it surpasses 25,200 levels, potentially reaching 25,500-25,600. Support levels are seen at 24,900 and 25,000.
Nifty 50 Prediction
- Expected to reach 25,350/25,400 on the higher end
- Lower end support at 24,900
- RSI indicates a Bullish Belt Hold candlestick pattern
Bank Nifty Prediction
- Broke out of consolidation, inching towards 52,500
- Support base shifts higher to 51,400-51,500
- Expected to bounce towards 52,350 then 52,500 zones
Expert Insights
- Nagaraj Shetti, HDFC Securities: Nifty 50's upside breakout could lead to 25,500-25,600 levels.
- Rupak De, LKP Securities: Sentiment remains strong, with Nifty reclaiming 50-EMA.
- Jatin Gedia, Sharekhan: Hourly momentum indicator shows a buy signal.
- VLA Ambala, Stock Market Today: Nifty's RSI indicates a Bullish Belt Hold pattern.