June 13, 2024 / 09:08 AM IST
Sensex, Nifty to open positive: Deven Mehata, Research Analyst at Choice Broking
The benchmark Sensex and Nifty indices are expected to open positive on June 13, following GIFT Nifty trends indicating a gain of 90 points for the broader index.
After a gap up opening, Nifty can find support at 23,300 followed by 23,200 and 23,150. On the higher side, 23,450 can be an immediate resistance, followed by 23,500 and 23,600.
The charts of Bank Nifty indicate that it may get support at 49,800, followed by 49,600 and 49,500. If the index advances further, 50,100 would be the initial key resistance, followed by 50,300 and 50,500.
Today Markets will react to the FOMC meet outcome, US CPI data and Indian macro data as well. The US Federal Reserve held rates steady, indicating only one rate cut this year but a more aggressive rate cut path for next year. Traders holding long positions can hold with a stop loss of 23200 on a closing basis for the targets of 23500-23700 levels.
