Stock Market Outlook Today:
On Tuesday, May 20, the Indian stock market is expected to open on a positive note. Global market trends are showing strength, and the Gift Nifty is trading at 25,083.50 — which is about 107 points higher than its previous close. This suggests a good start for the Nifty 50 index.
On Monday, the Indian stock market ended slightly lower. The Nifty 50 closed at 24,945.45, down by 0.3%, while the Sensex dropped 0.33% to end at 82,059.42. During the day, both indices showed mixed movement, moving between small gains and losses.
Technical analysts believe Nifty 50 has short-term strength as it stays above the 9-day EMA and 20-day SMA. The Relative Strength Index (RSI) is over 60, indicating that the upward trend might continue. However, the ADX suggests that the trend may be range-bound unless there’s a strong trigger.
Experts say that if Nifty closes above 25,070, it could go up to 25,180 or 25,280. On the downside, support levels are at 24,800 and 24,700.
Bank Nifty ended Monday at 55,420.70, up by 0.12%. It has been moving within a downward channel. A clear breakout is still awaited. The RSI is above 60, suggesting strength, while the MACD remains weak.
If Bank Nifty closes above 55,700, it might head toward 56,000–56,200 levels. Support levels to watch are 55,000 and 54,800. A bigger support zone is seen between 54,400 and 54,100.
Overall, the market shows signs of recovery with a bullish bias. Investors should stay alert for stock-specific opportunities as earnings season continues. Support and resistance levels will guide short-term trades, and a breakout from current levels may lead to fresh upward movement.
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