In the Stock Market Today, Stocks tumble as NDA falls short of expected landslide victory, Sensex down 4,390 pts, Nifty below 22,000.
Stock Market Nifty Chart Prediction.
On May 04 Sensex dropped by 4,389.73 points, landing at 72,079.05. Similarly, the Nifty fell by 1,379.40 points, closing at 21,884.50. Out of all traded shares, 331 advanced, -3,093 declined, and 55 remained unchanged.
Top Nifty gainers: HUL, Nestle, Britannia Industries, Hero MotoCorp and Tata Consumer Products,
Top Nifty Losers: Adani Ports, Adani Enterprises, ONGC, NTPC and SBI
All sectoral indices, except FMCG, finished in the negative territory. Realty, Telecom, Metal, Capital Goods, Oil & Gas, Power, and PSU Bank sectors each declined by over 10%.
BSE Midcap index shed 8% and smallcap index fell nearly 7%
Stock Prediction for 05th June 2024.
| STOCK | Good Above | Weak Below |
| ASIANPAINTS | 2888 | 2860 |
| CIPLA | 1470 | 1450 |
| GODREJCP | 1355 | 1340 |
| TECHM | 1260 | 1240 |
Prediction For Wednesday, NIFTY can go up if it goes above 23,200 or down after the level of 22,400 but all depends upon the Global cues.
Nifty started the day with a gap down and plummeted, ending the session down approximately 6%. This decline marked a clear break below the recent swing low of 21820, disrupting the pattern of higher highs and higher lows. Looking ahead, the levels of 23200 to 24000 are expected to act as significant resistance. The support levels are anticipated to range between 22400 and 21000.
| Highest Call Writing at | 23,200 (1.3 Crore) |
| Highest Put Writing at | 22,400 (73.9 Lakhs) |
Nifty Support and Resistance
| Support | 22,400 – 21,000 |
| Resistance | 23,200 – 24,000 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday, Bank NIFTY can go up if it goes above 49,600 or down after the level of 45,500 but it all depends upon the Global cues.
Bank Nifty has recently breached the ascending channel, signaling a shift in its trend. We foresee a correction towards the support level of 45500 to 45000. Conversely, the resistance level is likely to be encountered in the range of 49600 to 51000 on the upside.
| Highest Call Writing at | 49,600 (32.6 Lakhs) |
| Highest Put Writing at | 45,500 (15.4 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,500 – 45,000 |
| Resistance | 49,600 – 51,000 |
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