Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 27

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Friday, tracking positive global market cues.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,716 level, a premium of nearly 101 points from the Nifty futures’ previous close.

On Thursday, the domestic equity market indices extended gains for the third straight session, with the Nifty 50 closing above 25,500.

The Sensex jumped 1,000.36 points, or 1.21%, to close at 83,755.87, while the Nifty 50 settled 304.25 points, or 1.21%, higher at 25,549.00.

Here’s what to expect from Nifty 50 and Bank Nifty today:

Nifty 50 Prediction

Nifty 50 witnessed an excellent breakout on June 26 and closed the day higher by 304 points.

“A long bull candle was formed on the daily chart which indicates a decisive break out of the last couple of months high low range of 24,500 - 25,200 levels and closed higher. Technically, such sharp breakouts after the consolidation bands more often trigger strong upside momentum in the underlying’s. Hence, one may expect sharp follow-through up moves in the short term,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the underlying trend of Nifty 50 remains positive, and having almost reached the upside target of 25,600 levels on Thursday, Nifty 50 could now advance towards the next upper 25,800 - 26,000 mark by next week. Immediate support is placed at 25,400 levels.

Om Mehra, Technical Research Analyst, SAMCO Securities, said that the Nifty 50 index formed a strong bullish candle, validating a breakout above the rising trendline drawn from recent swing highs.

“Notably, Nifty 50 closed firmly above the 25,500 mark, highlighting bullish undertones. The index continues to trade above all key short-term moving averages, with a widening gap between the price and the 50-day SMA showing strength. On a broader time frame, the Nifty 50 maintains its higher-high formation and is now comfortably sustaining above the 78.6% Fibonacci retracement drawn from the 52-week high and low, underlining the dominance of the bulls. The daily RSI is placed above the 65 level, with a positive crossover in MACD, indicating strong internal strength,” Mehra said.

With a short-term rally of over 1,000 points (approx. 4.40%) in the last 10 sessions, the support base has now shifted higher to 25,300, which aligns with the trendline zone. The immediate resistance is seen at 25,700, followed by 25,850. On the hourly chart, the VWAP offers steady intraday support, highlighting sustained accumulation during dips, he added.

VLA Ambala, Co-Founder of Stock Market Today highlighted that the Nifty 50 formed a bullish marubozu candlestick pattern, which indicates strong buying momentum.

“Market saw significant short-covering moves, leading to a breakout above 25,500 with substantial trading volumes. Based on this, we can expect Nifty 50 to reach new highs within the next 2 to 8 days. Considering these aspects, we expect Nifty 50 to gather support between 25,470 and 25,300 and meet resistance near 25,650 and 25,765,” Ambala said.

Bank Nifty Prediction

Bank Nifty index surged 585.55 points, or 1.03%, to end the session at 57,206.70, forming a strong bullish candle on the daily chart, strengthening a breakout from the recent consolidation near the 56,500 zone.

“Bank Nifty formed a sizable bull candle with a higher high and higher low signaling strength and continuation of the up move. The structure in the index remains firmly bullish as it is seen sustaining above the 20-day EMA since April — a key indicator of persistent upward momentum. Given the recent breakout from the consolidation zone of 56,000 – 53,500, the implied pattern target projects an upside potential towards 57,800 and 58,500 mark over the coming weeks. This projection is further supported by bullish price structure and momentum indicators,” said Bajaj Broking Market.

The daily 14 period RSI remains in an uptrend, further validating the bullish structure. On the downside, key support base has been recalibrated to the 55,500 – 56,000 region, which marks a confluence of technical factors — namely, the 20-day EMA and the recent swing lows of the current weeks, the brokerage firm added.

Om Mehra said that the Bank Nifty index continues to trade comfortably above all key moving averages, including 50-day SMAs.

“On the Fibonacci extension, Bank Nifty has decisively crossed the 100% projection at 57,049, with the next potential targets now placed at 57,566 (1.272 level) and 58,223 (1.618 extension). These extensions are based on the recent rally leg from 55,149 to 57,049. The daily RSI stands at 65, approaching the upper band but still not overbought, while the MACD shows a bullish crossover, with a rising histogram, strengthening underlying momentum,” Mehra said.

On the intraday scale, Bank Nifty is finding steady support near VWAP, and dips are being bought into. The previous resistance zone between 56,300 and 56,700 now turns into a reliable support zone. Unless the index breaks below this, the short-term outlook remains decisively positive, he added.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.