Nifty 50, Sensex today: What to expect from Indian stock market in trade on August 18 after Trump-Putin meeting
The Indian stock market is set for an action-packed start on Monday, August 18, as investors digest key global and domestic developments, including the much-anticipated meeting between US President Donald Trump and Russian President Vladimir Putin, along with proposed GST reforms at home.
Gap-Up Opening Expected
The Gift Nifty is signaling a positive start, trading around the 24,915 level a premium of nearly 230 points over the Nifty futures’ previous close. This indicates a strong gap-up opening for Indian benchmark indices, Sensex and Nifty 50.
The markets were closed on Friday, August 15, in observance of India’s 79th Independence Day. On the previous trading session (Thursday), Nifty 50 closed marginally higher at 24,631.30, while the Sensex ended at 80,597.66.
Sensex Prediction
According to Amol Athawale, VP Technical Research at Kotak Securities, the Sensex has formed bullish reversal patterns on daily and weekly charts.
Support: 80,300 remains a crucial support zone.
Resistance: Immediate resistance is seen near 80,900, and a breakout could push the index towards 81,500–81,800.
Downside Risk: A fall below 80,300 could drag the index to 79,800 or even 79,100 levels.
Nifty OI Data
In the derivatives market, the highest call open interest is at the 24,700 strike, while the highest put open interest is concentrated at the 24,600 strike. Analysts suggest that 24,700 is the key resistance, and a sustained close above this level will be crucial for maintaining bullish momentum.
Nifty 50 Prediction
The Nifty 50 index has ended its six-week losing streak by closing above both its 100-day EMA and 21-week EMA, signaling strength.
Support Levels: Cluster supports are seen around 24,300–24,200, while immediate support is at 24,450.
Resistance Levels: Hurdles lie at 24,700–24,840. A decisive breakout above this zone could drive Nifty towards 25,000.
Analyst Views:
Nagaraj Shetti (HDFC Securities) highlights that the formation of a bullish candle suggests a potential reversal.
Nilesh Jain (Centrum Broking) emphasizes that reclaiming the 100-DMA at 24,560 is positive, but a breakout above the 21-DMA at 24,770 is crucial.
Puneet Singhania (Master Trust Group) advises a buy-on-dips strategy as long as the 200-day EMA near 24,200 holds firm.
VLA Ambala (Stock Market Today) expects support near 24,540–24,500 and resistance at 24,750–24,830.
Bank Nifty Prediction
The Bank Nifty closed at 55,341.85 on Thursday, forming a bullish candle but still lacking strong momentum.
Support Levels: 55,000 and 54,800 remain key support zones.
Resistance Levels: The index faces resistance around 55,700–55,960.
Analyst Views:
Sudeep Shah (SBI Securities) notes weakness as the index trades below its 20-day and 50-day EMAs.
Om Mehra (SAMCO Securities) points to support at the 100-SMA near 55,000, keeping a slightly positive outlook.
Hrishikesh Yedve (Asit C. Mehta Investment Intermediates) highlights that a breakout above the 34-DEMA near 55,960 could trigger further gains.
Global Factors in Play
The Trump-Putin meeting over the weekend will be closely watched for geopolitical cues, particularly regarding energy, trade, and diplomatic relations. Combined with India’s GST reform progress, these developments are expected to shape investor sentiment on Monday.
Outlook for August 18
Nifty 50: Likely to trade in the 24,500–24,800 zone, with a breakout above 24,840 opening the doors to 25,000.
Sensex: Support at 80,300 and resistance at 80,900 will be the key levels to watch.
Bank Nifty: Expected to remain range-bound between 54,800–55,800, with a possible pullback if supports hold.
Investors should keep an eye on global cues, derivatives data, and technical breakout levels before taking fresh positions.
Disclaimer: The views and recommendations mentioned above are those of analysts and brokerages. Investors are advised to consult certified financial experts before making investment decisions.
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