Indian Stock Market Outlook: Nifty 50 and Sensex trends to watch on September 15

Sensex today, Nifty 50 today may open lower on Monday amid mixed cues from global markets.

Nifty 50 September 15 outlook and Bank Nifty Today: What to Expect

Sensex September 15 prediction

The Sensex on the weekly chart has formed a bullish candle. Further, the index has been sustaining a higher-bottom pattern on the daily as well as intraday charts, which augurs well for further upside.

“The immediate resistance could be near the 82,200–82,300 zone which has repeatedly acted as a ceiling. A convincing move above this zone could see the index march towards the 82,500 zone. On the lower side, the immediate support zone could be around 81,200–81,000 and below which the index could correct to test the 80,500 region,” Mayank Jain, Market Analyst at Share.Market (PhonePe Wealth) told Financial Express Online.

Nifty OI Data

The Call OI peaks at 25,200 strike followed by 25,300 while the Put OI is maximum at 25,000 and 25,100 strikes. Stock market forecast India shows a broad 24,600–25,500 range with an immediate band of 24,900–25,300 levels. Call writing is seen at 25,100 and 25,150 strikes while Put writing is visible at 25,100 and 25,050 strikes.

Nifty 50 Prediction

On the daily chart, the Nifty 50 has formed a double-bottom pattern. Technically, the index is now eyeing the neckline resistance.

Bank Nifty Prediction

Bank Nifty gained 139.70 points or 0.26 per cent to close at 54,809.30 on Friday. The BSE Sensex today on the diurnal map has formed a green candle with a long upper shadow, while the daily map signals strength with a bullish candle.

“The immediate resistance on Bank Nifty can be seen between the 54,900–55,000 zone, which aligns with the trend line barrier as well as the 34-DEMA,” analysts said.