Nifty 50, Sensex today: What to expect from Indian stock market in trade on February 13

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a flat note on Thursday following mixed global market cues.

The trends on Gift Nifty indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 23,135 level, a premium of nearly 12 points from the Nifty futures’ previous close.

On Wednesday, the domestic equity market ended lower amid high volatility, extending its losses for the sixth consecutive session.

The Sensex fell 122.52 points to close at 76,171.08, while the Nifty 50 settled 26.55 points, or 0.12%, lower at 23,045.25.

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

Sensex Prediction

The benchmark indices witnessed intraday recovery on Wednesday and the Sensex ended lower by 123 points.

“Technically, after an early morning intraday correction, Sensex defended the 75,400 support zone and bounced back sharply. From the day’s lowest levels, it rallied nearly 780 points. Additionally, Sensex formed a long-legged doji candle formation, which indicates indecisiveness between bulls and bears. We are of the view that as long as Sensex is trading above 75,500, the pullback formation is likely to continue,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

On the higher side, he believes, Sensex could bounce back to the 76,700 – 76,800 range. Conversely, if the index falls below 75,500, selling pressure is likely to accelerate.

“If that happens, the Sensex could retest the 75,000 level. Further downside movement may also persist, potentially dragging the index down to 74,700,” Chouhan said.

Nifty OI Data

In the derivatives market, Nifty open interest (OI) data revealed the highest call OI at the 23,300 strike, while the put side saw the highest OI at the 23,000 strike.

“This suggests that Nifty 50 may face resistance near the 23,300 level, with traders positioning for further gains. A sustainable move above these key levels will be crucial in determining the market’s next direction,” said Aakash Shah, Technical Research Analyst at Choice Broking.

Nifty 50 Prediction

Nifty 50 witnessed high volatility and smart upside recovery on February 12 and closed the day lower by 26 points.

“A small negative body candle was formed on the daily chart with small upper and long lower shadow. Technically, this pattern indicates a formation of ‘long legged doji’ type candle pattern (not a classical one). This market action signals indecision at the lows. Normally, such formations like a long legged doji pattern after a reasonable decline indicates chances of bottom reversal post confirmation,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the underlying trend of Nifty 50 is still weak, but the interesting pattern formation at the support of 22,800 could hint at a possibility of a reversal pattern from current levels or from slight lows.

“A confirmation of the reversal pattern could possibly open a sizable upside bounce in the market. Immediate support is placed at 22,800 levels. A sustainable move above 23,150 – 23,200 levels could open more upside for the short term,” Shetti said.

Om Mehra, Technical Analyst, SAMCO Securities, noted that on the daily chart, Nifty 50 formed a Dragonfly Doji, reflecting indecision.

“The daily RSI has slipped to 40, signalling a decline in the momentum. Nifty 50 remains below key moving averages, highlighting a weaker outlook. The broader trend remains bearish unless a decisive close above 23,500 is attained. However, the hourly chart indicates a potential short-term rebound, with a break above 23,150 likely to initiate an upward move towards the 23,320 – 23,400 range,” said Mehra.

Bank Nifty Prediction

Bank Nifty index gained 76.05 points, or 0.15%, to close at 49,479.45 on Wednesday, attempting to stabilize after recent declines.

“On the daily chart, the Bank Nifty index formed a Dragonfly Doji, indicating indecision but hinting at a possible reversal, if buying interest strengthens. However, the index remains below key moving averages, suggesting that a decisive recovery is yet to take shape. Bank Nifty is holding above the 23.6% Fibonacci retracement level at 49,270, indicating near-term support,” said Om Mehra.

According to him, the RSI is showing some resilience, positioned just below 50, reflecting a potential shift in momentum.

“The hourly chart suggests a positive setup, with an upside move towards 50,150 likely unless 48,730 is breached. The short-term trend remains neutral to slightly negative, but a pullback is expected in the next session, provided key support levels hold firm,” Mehra said.

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.