Indian Stock Market Set for a Strong Start on August 19: What to Expect from Nifty 50 and Sensex

The Indian stock market, including Sensex and Nifty 50, is expected to open higher on Monday, following gains in global markets and positive investor sentiment.

Gift Nifty, an indicator for the Indian market, suggests a positive start, trading around 24,670, which is 72 points higher than the previous Nifty futures close.

On Friday, both Sensex and Nifty 50 surged nearly 2%, with Nifty 50 reclaiming the 24,500 mark. Sensex jumped 1,330.96 points to close at 80,436.84, and Nifty 50 ended 397.40 points higher at 24,541.15.

Nifty 50 Outlook:

Nifty 50 showed a strong upward move on August 16, closing above 24,500 after breaking out of a consolidation phase. It formed a long bullish candle, indicating a potential upside breakout.

According to experts, Nifty 50 may continue to consolidate between 24,300 and 24,550 in the near term. A clear move above 24,550 could trigger further gains. Support is expected between 24,470 and 24,350, with resistance between 24,630 and 24,745.

Bank Nifty Outlook:

Bank Nifty rose 790 points to close at 50,517 on Friday, forming a bullish pattern. Support is seen at 50,000, while resistance is around 50,900 to 51,200. A strong move above 50,800 could push the index toward 52,000 to 53,400 in the coming days. Bank Nifty is expected to trade between 49,500 and 51,800 this week.