Nifty 50, Sensex prediction today: Check how Indian stock market is expected to trade on 12 August

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat on Wednesday, 12 August, amid mixed global cues.

The Gift Nifty trends also indicated a flat start for the Indian benchmark index. The Gift Nifty was trading at around 24,550.5, a 10-point premium to the Nifty futures’ previous close.

On Tuesday, the Indian stock market ended lower, with the benchmark Nifty 50 closing below 24,500.

The Sensex dropped 388.19 points, or 0.49%, to close at 78,154.25, while the Nifty 50 settled 112.10 points, or 0.46%, lower at 24,471.70.

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

Sensex Prediction

The Sensex ended Tuesday’s session at 78,154.25, declining 388.19 points, or 0.49%.

Sachin Gupta, VP – Technical Research at Choice Equity Broking, said the Sensex formed a bearish red candle on the daily chart and is currently trading below its 200-day EMA, indicating some deterioration in the near-term technical structure. However, the index continues to trade comfortably above its 20-day, 50-day and 100-day EMAs, suggesting that the broader medium-term trend remains relatively resilient.

According to Gupta, the RSI stands at 54.82, remaining above the neutral 50 mark and indicating that momentum is balanced rather than decisively bearish. The PCR at 1.17 also points to relatively supportive positioning, although further confirmation is required.

Gupta said the broader outlook remains sideways, with the index caught between key support and resistance levels. Holding the 78,000–77,800 zone will be crucial to prevent further weakness, while a decisive move above 78,500–78,700 could help restore positive momentum.

Nifty 50 Prediction

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the Nifty 50 slipped into weakness amid choppy trading on Tuesday, ending the session 112 points lower. A reasonably negative candle was formed on the daily chart, reflecting the lacklustre market movement seen over the past six sessions.

According to Shetti, the gradual weakness amid range-bound trading suggests a further decline towards the crucial breakout zone around 24,300 before the index attempts a rebound from lower levels.

He noted that the broader bullish structure, marked by higher tops and higher bottoms on the daily and weekly charts, remains intact. The current weakness could therefore be part of the formation of a new higher bottom, although a reversal from these levels needs to be confirmed.

Shetti expects consolidation and choppy movement to continue in the near term, with 24,300 emerging as the key support level to watch.

Osho Krishan, Chief Manager – Technical & Derivative Research at Angel One, said the Nifty 50’s 20-day DEMA, currently placed around 24,350, is likely to act as the immediate support zone. A decisive break below this level could intensify selling pressure, with stronger support at the 24,200–24,160 zone, where the 50- and 100-day DEMAs converge.

On the upside, Krishan identified 24,600 as a crucial resistance level, in line with recent closing levels and likely to restrict recovery attempts. A sustained move above this resistance, supported by improving momentum, would be essential to revive buying interest and restore positive traction in the index in the coming sessions.

Given the recent developments, Krishan advised a cautious approach, saying investors should avoid aggressively adding long positions on dips until a meaningful directional move emerges. In the interim, he recommended a stock-specific approach, particularly as the benchmark continues to show weakness and remains vulnerable in the near term.

Bank Nifty Prediction

The banking benchmark index, Bank Nifty, opened with a gap-down on Tuesday and extended its decline early in the session. However, the index found support near its 50-day EMA, helping it recover some of its intraday losses. It eventually settled at 57,446, forming a bearish candle with a long lower shadow, indicating buying interest emerging at lower levels

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, said From a technical standpoint, the 100-day EMA zone of 56,900-56,800 is likely to act as a critical support area in the coming sessions. A decisive breakdown below 56,800 could trigger further weakness, with the index potentially declining towards 56,200.

On the upside, the 57,900-58,000 zone remains a significant resistance. A sustained move above this range would be required to improve sentiment and revive bullish momentum.

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.