Indian stock market indices, Sensex and Nifty 50, are set to open higher on Thursday following positive global cues. The Gift Nifty is trading at a premium, indicating a positive start for the benchmark index.
After a strong recovery on Wednesday, the Sensex closed above 74,000 for the first time, while the Nifty 50 settled higher at 22,474.05. Nifty 50 formed a bullish pattern on the daily chart, suggesting further upside potential.
Analysts predict the Nifty 50 to reach levels between 22,600 and 22,700, with immediate support at 22,300 – 22,250 levels. The Bank Nifty also showed bullish trends, with potential targets at 49,000 / 50,000 in the near term.
Options data for today’s expiry suggests a range between 22,400 and 22,600 for the Nifty 50. Analysts advise investors to seek advice from certified experts before making any investment decisions.
