Nifty 50, Sensex today: What to expect from Indian stock market in trade on May 20

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

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,083.50 level, a premium of nearly 107 points from the Nifty futures’ previous close.

India's equity benchmark indices edged down on Monday, mirroring the trend in global markets.

The Nifty 50 slipped 0.3% to close at 24,945.45, while the Sensex ended 0.33% lower at 82,059.42. Throughout the session, they fluctuated between gains of 0.2% and losses of 0.4%.

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

Sensex Prediction

Anshul Jain, Head of Research at Lakshmishree Investment and Securities said that Sensex closed right at the weekly swing high of 82,317, a key inflection point. For the uptrend to sustain, a close above 82,400 is crucial—if achieved, bulls will likely target the next major level at 85,978, which is also the all-time high. However, a failure to break above 82,400 could trigger a pullback toward the daily swing low of 81,000. Traders should wait for confirmation before committing to directional trades.

Nifty 50 Prediction

According to Om Mehra, Technical Research Analyst, SAMCO Securities, Nifty 50 holds above the 9-EMA and 20-SMA, highlighting the short-term bullish outlook.

Further, Om explained that the Relative Strength Index (RSI) stands above 60, indicating the trend remains firm. However, the ADX has cooled off to 23, implying a lack of trend and hinting at a possible range-bound phase unless fresh triggers emerges. The flattening +DI and subdued -DI lines further support this short-term view.

"A close above 25,070 could reignite bullish momentum, potentially opening up the path toward the 25,180-25,280 zone. On the downside, immediate support is placed at 24,800, followed by 24,700, which aligns with the 20-SMA.

In the near term, Nifty 50 is likely to remain in a consolidation phase with a bullish bias. A breakout above 25,070 may trigger fresh long positions, while minor pullbacks toward support levels cannot be ruled out," explained Mehra.

As per Bajaj Broking Research analysts, going forward, we expect Nifty 50 to hold above the immediate support area 24,800 and head towards the immediate target area 25,200–25,300 in the coming sessions , which represents the measured move target of the recent breakout from the consolidation range of 23,800–24,500.

While the broader trend remains constructive, some consolidation around the 25,200–25,300 levels cannot be ruled out given the sharp up move witnessed in recent sessions.

“Market participants should continue to focus on stock-specific opportunities as the Q4FY25 earnings season unfolds. On the downside, immediate support is placed at 24,800, whereas the breakout zone around 24,600–24,400, coinciding with last week’s low, is expected to act as a key demand zone and provide strong support in the near term,” said Bajaj Broking Research analysts.

Bank Nifty Prediction

Nifty Bank ended the session at 55,420.70, up 0.12%, forming a modest green candle while attempting to move beyond the upper trendline of the descending channel.

According to Om Mehra, The index has been oscillating within this falling channel for past several days, and a confirmed breakout is still awaited to establish directional clarity. The Relative Strength Index (RSI) stands above 60, indicating steady momentum and continued strength.

However, the MACD hovers in the negative zone, with the fast line yet to cross above the signal line. On the hourly chart, the index is sustaining above the Supertrend support at 55,100. A close above 55,700 would confirm a breakout from the falling channel, potentially opening the path toward 56,000–56,200 levels. The immediate support is placed at 55,000. The overall trend remains neutral to mildly positive, explained Om.

According to Bajaj Broking Research analysts, going ahead, we expect the index to maintain its upward bias and gradually move towards the 56,400 level, which corresponds to the 123.6% external Fibonacci retracement of the recent corrective phase (56,194–53,585).

A key technical observation on the daily chart is that the index has been trading within a downward-sloping channel for the past 18 sessions.

“Currently, it is poised near the upper boundary of this falling channel, suggesting a potential breakout that would reinforce the bullish momentum. On the downside, immediate support is placed at 54,800. Further, the zone of 54,400–54,100, which aligns with the prior week's low and the 20-day EMA, is expected to act as a strong support base in the near term,” said Bajaj Broking Research analysts.

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.