Stock Market Outlook May 16: The Indian stock market is likely to open on a positive note today, May 16, as per early trading indicators. Gift Nifty, which often shows how the market might move, was trading nearly 98 points higher than its previous close. This suggests a strong start for Nifty 50 and Sensex.

Stock Market Outlook May 16:

On Thursday, the stock market saw a big rally. Sensex rose by 1,200 points to end at 82,530, while Nifty 50 crossed the 25,000 mark, closing at 25,062 — both major gains that point to bullish investor sentiment.

Experts believe that this momentum may continue today. Technical charts show a strong uptrend. Analysts say that buying during small price dips and selling on short-term gains could be a good strategy for intraday traders. Key support for Sensex lies at 81,800, while resistance levels may be seen around 83,000.

Nifty 50 has also shown solid strength. After recent consolidation, it broke out with a long bullish candle, which usually signals more upside. Analysts expect the index to aim for 25,250–25,500 in the short term. Immediate support is placed near 24,800.

Technical indicators like the RSI (Relative Strength Index) and moving averages are showing strong momentum but not yet overbought, meaning there could be room for further rise.

Bank Nifty, which tracks banking stocks, also rose by over 550 points on Thursday. Analysts expect it to reach around 56,400 if it maintains current momentum. Support is seen near 54,500, while the next resistance zone is between 55,800 and 56,000.

In summary, the Indian market is showing signs of continued positivity backed by strong technical patterns and investor confidence. Traders are advised to remain cautious but optimistic, following market trends and key support/resistance levels.

Also Read: India’s Unemployment Rate April 2025: Young People Face Highest Unemployment

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