Nifty 50, Sensex Today: February 28, Indian stock market expectations for Indian stock market

The Indian stock market benchmark index (Sensex and Nifty 50) may open on Friday, tracking weakness in global markets.

Gift nifty trends also indicate that the gap in India’s benchmark index begins. Nifty’s gift trading volume is about 22,542, with a discount of nearly 141 points compared to Nifty Futures’ previous closing price.

On Thursday, the Indian stock market ended the stormy conference apartments, with the mid- and small-cap indexes having a wider performance.

Sensex got 10.31 points, or 0.01%, which closed on 74,612.43, while the Nifty 50 scored 2.50 points, or 0.01%, higher than 22,545.05.

Here are the expectations of Sensex, Nifty 50 and Bank Nifty:

Sensex Prediction

Sensex continued to show a trend in distance range on Thursday and ended with a score of 74,612.43.

“Technically, after silent openings, Sensex hovers between 74,500 and 74,800 throughout the day. Additionally, the non-steering wheel activity and small bearish candles on the daily chart indicate further mergers. We believe that 74,800 people will be the key resistance zone for short-term traders; a pullback above this level may continue to 75,000-75,300.”

Instead, there is only a new sell-off after a violation of 74,500; he added that below this level, Sensex could slide to 74,200-74,000.

Nifty OI Data

Nifty Open Interest (OI) data shows that the highest OI in terms of calls is 22,600 and 22,700 strike prices, highlighting strong resistance levels. Hardik Matalia, a derivative product analyst at Choice Broking, said it appears that OI is focused on the 22,500 strike price, marking it as a key support level.

Nifty 50 Prediction

The Nifty 50 continued to show stormy movement on February 27 and closed 02 points in action in range.

“A small negative candle formed on the daily chart with less shadows on the upper and lower ones. Technically, this market action signal forms a high-wave candle pattern at the low point of the swing. “After this range motion is formed in the range motion, the predictability of this pattern may be lower. ”

According to him, the short-term trend of the Nifty 50 remains weak with the range boundaries.

“The Nifty 50 is expected to immediately slide to the immediate support of the 22,400 level (20-month EMA) in the short term. The immediate resistance level is 22,625,” Shelty said.

Om Mehra, technical analyst at SAMCO Securities, noted that over the past three meetings, the Nifty 50 oscillated in the narrow band of points 160-170, fluctuating between 22,508 and 22,668, reflecting the integration phase.

“On the daily chart, the DOJI combination emphasizes indecision. The Nifty 50 will remain undirected until the decisive breakout exceeds the 22,500-22,700 range. Meanwhile, the daily RSI falls below 30 and enters oversold territory. Faults below 22,500 may accelerate to drop to 22,350, followed by 22,270. However, this seems to be more than the price correction,” Mehra said.

In this case, it may be too early to try to grab the bottom, unless the reversal gets an additional fusion.

VLA Ambala, co-founder of today’s stock market, stressed that the Nifty 50 index closed for the fifth straight month, down nearly 13% from its peak.

“Technically, Nifty formed the DOJI candlestick pattern at Thursday’s meeting, while RSI is on the daily chart at 29, 37 per week and 55 per month. The Nifty 50 is currently away from its 20-month EMA (Exponential Moving Average), which suggests that further corrections are likely to be made. However, the Nifty 50 may hover over the support of 22,500 and 22,360, while the resistance is expected to be close to 22,670 and 22,710,” Ambala said.

Beautiful bank predictions

Bank Nifty Index outperformed the frontline, ending up with 135.45 points, or 0.28%, at 48,743.80.

“As the frequent appearance of Doji candlesticks on the daily chart reflects hesitation, the Nifty index remains undirected. The broader trend continues to show lower highs and lower lows patterns, indicating potential weaknesses. The current nine EMA positions at 49,100 are immediate resistance, limiting any upside attempts. On the downside, support is 48,280, and violating this level may accelerate down to 48,000,” Om Mehra said.

Meanwhile, MACD still tends to the downside, while the sustained average return lacks other confirmation. He added that this phase of consolidation and uncertainty could be expanded in the next few meetings.

Disclaimer: The views and suggestions presented above are those of individual analysts or brokerage firms, not mint. We recommend that investors contact certified experts before making any investment decisions.