In Stock market today, Bulls fail to hold grip as Nifty ended around 19,650 and Sensex dips 440 points
Stock Market Nifty Chart Prediction.
On July 27, the Indian stock market witnessed a decline, with benchmark indices erasing the gains from the previous session. The Nifty, which is one of the key indices in India, closed around 19,650, down 118.40 points or 0.60 percent. Similarly, the Sensex, another important index, was down 440.38 points or 0.66 percent, ending at 66,266.82.
The selling pressure was observed in various sectors, including auto, oil & gas, metal, and FMCG (Fast-Moving Consumer Goods) companies. However, the pharma sector performed well, with the pharma index registering a gain of 3 percent, and the realty sector also showed strength, ending up 2 percent.
The market initially started on a positive note, supported by positive Asian markets and seemingly ignoring the previous night’s US Fed rate hike. However, as the session progressed, profit booking at higher levels led to a reversal, and the market slipped into the red, ultimately closing with a loss of 0.6 percent.
Among the top losers on the Nifty were companies like M&M (Mahindra & Mahindra), Tech Mahindra, Tata Consumer Products, Nestle India, and Britannia Industries. On the other hand, some of the gainers included Cipla, Sun Pharma, Divis Labs, Apollo Hospitals, and Bharti Airtel.
For Friday NIFTY can open flat to slight Red but all depend upon the Global cues.
There are good chances of flat to slight Gap down opening for Friday as NIFTY is closed below 19700. If Nifty gives a Gap down opening, it may move to the level of 19500. But all these aspects depend upon the Global cues.
For Friday resistance will be 19800 and then 19900 where else support will come at the level of 19500
Bank Nifty Daily Chart Prediction
Today, BANK NIFTY was more weak as compared to nifty it was mostly in the down trend as major bank like HDFC Bank ICICI Bank after hitting they resistance started coming down. Today bank nifty has closed below its critical level of 45800 which has made bank nifty weak again For tomorrow you can go with the strategy of sell on rise.
Friday Bank nifty resistance will be 45800 and 46000 where else support will be 45600 and 45500.
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