Nifty 50, Sensex prediction today: Check how Indian stock market is expected to trade on 19 June

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Friday, tracking mixed global market cues.

The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 24,000 level, a discount of nearly 192 points from the Nifty futures’ previous close.

On Thursday, the Indian stock market ended higher, extending its rally for the fifth straight session, with the benchmark Nifty 50 closing above 24,100 level.

The Sensex rallied 254.36 points, or 0.33%, to close at 77,409.98, while the Nifty 50 settled 82.30 points, or 0.34%, higher at 24,168.00.

Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today:

Sensex Prediction

Sensex formed a bullish candle on daily charts and an uptrend continuation formation on intraday charts, indicating a further uptrend from the current levels.

“For trend-following traders, 77,200 and 77,000 would act as key support zones. As long as Sensex is trading above these levels, the uptrend wave is likely to continue. On the higher side, it could bounce back to 77,800 – 78,000,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

On the flip side, he believes if Sensex falls below 77,000, the uptrend would become vulnerable, and advises traders to then exit their long positions.

Riyank Arora, Associate Vice President – HNI & Derivatives, Hedged.in noted that the Sensex registered a strong breakout above the important resistance area of 77,300, signaling improving market strength, which could pave the way for a move towards 77,800 – 78,000 in the coming sessions.

“Immediate support is placed near 77,000, while a stronger base is seen around 76,500 – 76,700,” said Arora.

Nifty Options Data

On the Nifty options front, maximum Call Open Interest (OI) is at 25,000 then 24,500 strike, while maximum Put OI is at 24,100 then 24,000 strike. Call writing is seen at 24,100 then 24,200 strike, while Put writing is seen at 24,100 then 24,000 strike.

“Option data suggests a broader trading range in between 23,700 to 24,600 zones, while an immediate range between 24,000 to 24,400 levels,” said Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd.

Nifty 50 Prediction

Nifty 50 formed a positive candlestick pattern on the daily timeframe and managed to close above the important 100-Day DEMA level of 24,153.

“A reasonable bull candle was formed on the daily chart, which indicates an attempt of breakout of a crucial hurdle of around 24,150 levels (resistance of previous swing high of 26th May and opening down gap of 11th May). This is a positive indication,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the underlying trend of Nifty 50 continues to be positive, and a decisive breakout of 24,150 could open sharp buying in the market and that could pull Nifty 50 towards 24,400 – 24,500 levels in the near term. Immediate support is placed at 24,000 levels.

Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse noted that the Nifty 50 index has also broken out of a falling trendline pattern, indicating the potential for a move towards 24,500 in the near term, while immediate support has shifted higher to 24,000.

“Momentum indicators remain favourable, with the MACD maintaining a buy crossover and the RSI moving above the 60 level, reflecting strengthening bullish momentum. Meanwhile, India VIX declined 3.5% to settle below the 13 mark, and any further easing in volatility is likely to provide additional support to the positive market sentiment,” said Jain.

Bank Nifty Prediction

Bank Nifty index ended 378.75 points, or 0.66%, higher at 57,963.80 on Thursday, witnessing a consolidation breakout and forming a sizeable bullish candle on the daily chart, indicating strong buying interest and sustained momentum.

“Bank Nifty index is currently trading comfortably above its short-term as well as long-term moving averages, reinforcing the prevailing bullish undertone. Additionally, the daily RSI is positioned above the 60 mark and continues to trend higher, which further supports the positive momentum in the index,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

Going ahead, he believes the Bank Nifty index is likely to continue its upward trajectory and test the levels of 58,500 followed by 59,100 in the short term. On the downside, the zone of 57,500 – 57,400 is expected to act as immediate support, providing a cushion against any interim pullbacks.

Om Mehra, Technical Research Analyst, SAMCO Securities highlighted that the Bank Nifty index is now trading comfortably above the 200-day SMA at 57,000, confirming that the broader trend has turned positive after a prolonged corrective phase. The recovery has remained steady, with each pullback finding support along a rising trendline, reflecting a sustained uptrend.

“On the 75-minute chart, the Bank Nifty index has witnessed a breakout from a flag formation near the 57,600 level, suggesting further upside potential. The RSI has surged to 71, indicating strong bullish momentum with no signs of bearish divergence. The next upside target is expected around the 58,500 – 58,700 zone, coinciding with the 1.272 Fibonacci extension level,” said Mehra.

According to him, on the downside, support for Bank Nifty is placed at 57,500, followed by 57,350.

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.