Bulls vs Bears: Here's what to expect on Dalal Street today

The Indian equity market fell for the third consecutive session on Tuesday amid negative global cues. Sensex ended 153 points lower at 52,693 and Nifty fell 75 points to 15,699 in the second trading session of this week. The market cap of BSE-listed firms fell to Rs 244.63 lakh crore against Rs 245.33 lakh crore market cap in the previous session.

BSE midcap and small cap indices slipped 36 points and 100 points, respectively.

Oil and gas and auto stocks were the top losers with their BSE indices ending 210 pts and 133 pts lower, respectively.

Here's a look at what analysts said about the expectations from the market today.

Deepak Jasani, Head of Retail Research, HDFC Securities

"Nifty has formed a near "Inverted Hammer" pattern which has bullish implications. Markets globally could remain nervous till the US Fed meet on June 15 gets out of the way. 15431-15513 band could provide support while 16173 could offer resistance over the next few sessions."

Rupak De, Senior Technical Analyst at LKP Securities

"The daily RSI is in the bearish crossover. The trend is likely to remain sideward in the short term. On the lower end, support is visible at 15650. On the higher end, resistance is placed at 15900/16000."

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd

"Technically, after a sharp decline, the Nifty is consolidating in the range of 15,700- 15,850. The short-term formation is still on the weak side. And we are of the view that if the index slips below the level of 15,700, it could hit 15,600-15,550 levels. On the flip side, 15,850 would act as an immediate hurdle for the bulls above which it could move up to 15,950-16,000."