Nifty 50, Sensex Today: What to Expect on July 18

The Indian stock market indices, Sensex and Nifty 50, are expected to open flat on Thursday due to weak global market trends.

Early indicators show a slightly positive start for Nifty 50, with Gift Nifty trading at 24,665, about 25 points above Tuesday’s Nifty futures close.

On Tuesday, Sensex rose 51.69 points to 80,716.55, and Nifty 50 increased by 26.30 points to 24,613.00. The market was closed on Wednesday for Muharram.

Nifty 50 formed a doji pattern, suggesting potential indecision at high levels. Senior Technical Analyst Nagaraj Shetti from HDFC Securities indicates that another doji could confirm a reversal pattern, but the near-term uptrend remains intact. Further gains could push Nifty towards 24,900 next week.

Nifty 50 and Bank Nifty Predictions:

Nifty OI Data:

Choice Broking’s Research Analyst Mandar Bhojane notes the highest open interest (OI) on the call side at 24,700 and 25,000, and on the put side at 24,000.

Nifty 50:

The support zone is at 24,500 – 24,400, with the next key level at 24,700 – 24,750, says Osho Krishan, Senior Analyst at Angel One Ltd. He advises monitoring sectoral rotation and thematic movers until key indices regain momentum.

Market Sentiment:

Tuesday’s session showed mixed sentiments, forming a Doji Star candlestick pattern, reflecting indecisiveness despite a bullish trend. V.L.A. Ambala from Stock Market Today suggests cautious investment, particularly in index ETFs, while noting defense sector focus. She expects Nifty to find support at 24,550 – 24,470 and resistance at 24,680 – 24,740.

Bank Nifty:

The Bank Nifty index dropped 59.10 points to 52,396.80 on Tuesday. Vaishali Parekh, Vice President at Prabhudas Lilladher Pvt. Ltd., notes resistance near 52,700. Breaking this could lead to targets of 53,500 and 55,100, with immediate support at 51,900. The daily range is expected to be 52,000 – 52,800.