Anticipating Market Movements: Predicting Nifty 50 (NIFTY) and Sensex (SENSEX) Trade Trends for May 14

• The Indian stock market is expected to open with a muted response on Tuesday, with mixed signals from global markets.
• The Gift Nifty trends suggest a flat-to-positive start for the Indian benchmark index, trading around the 22,245 level.
• On Monday, the Indian stock market indices ended higher due to late buying, with the Sensex gaining 111.66 points and the Nifty 50 settling 48.85 points higher.

Indian stock market indices are expected to open flat on Tuesday, following mixed global cues. The Gift Nifty trends suggest a positive start, with the Sensex and Nifty 50 ending higher on Monday.

Monday’s Market Performance

On Monday, the Indian stock market indices ended the volatile session higher due to fag-end buying. The Sensex gained 111.66 points, or 0.15%, to close at 72,776.13, while the Nifty 50 settled 48.85 points, or 0.22%, higher at 22,104.05. The Nifty 50 formed a ‘Bullish Hammer’ candlestick pattern on the daily chart, indicating a short-term bullish trend reversal.

Nifty OI Data

Looking at the Nifty Open Interest (OI) Data, on the call side, the highest OI is observed at 22,300 followed by 22,500 strike prices. On the put side, the highest OI is at 22,000 strike price, according to Deven Mehata, Research Analyst, Choice Broking.

Nifty 50 Prediction

The Nifty 50 index gained 49 points to close above the 22,100 level on May 13. The index has formed a hammer pattern on the daily chart, indicating a potential bullish reversal following a correction. However, the index’s recovery may encounter resistance in the 22,150 – 22,200 zone, and only a decisive move above 22,200 could trigger a stronger rally in the market, said Rupak De, Senior Technical Analyst, LKP Securities.

Bank Nifty Prediction

The Bank Nifty index broke the 9-day losing streak to close with a gain of 333 points at 47,754. The index saw a strong recovery from lower levels and managed to hold onto its support at the 100-day exponential moving average (EMA). There’s potential for a pullback towards its 20-day moving average (DMA), positioned at 48,200, according to Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Conclusion

The Indian stock market indices are expected to open flat on Tuesday, with mixed signals from global markets. However, the Nifty 50 and Bank Nifty indices show signs of potential bullish reversals. Investors are advised to keep a close eye on these developments and make informed decisions.