In Stock market today indices Sensex and Nifty maintained a steady close with marginal changes, experiencing volatility; power sector exhibited gains while PSU banks weighed down the overall performance.
Stock Market Nifty Chart Prediction.
Amidst mixed market signals, trading remained range-bound, resulting in marginal changes in indices. The Nifty experienced slight upward movement before stabilizing within a narrow range and ultimately closing near the day’s lowest point at 19396.45. Despite a mixed performance in different sectors, with metals, FMCG, and auto witnessing buying interest while banking and IT remained subdued, the broader market displayed positivity, with midcap and smallcap segments each gaining almost one percent.
The recent market rebound is perceived as a counter move within an ongoing corrective trend, as significant obstacles lie ahead for the Nifty to shift its trajectory. This landscape of diverse sectoral trends presents opportunities for trading on both long and short sides. Traders are advised to align their strategies with this mixed scenario while carefully managing position sizes.
Prediction For Wednesday NIFTY can go up if it goes above 19450 or go down after the level of 19300 but all depend upon the Global cues.
There are good chances of flat to slight Gap up opening for Wednesday as NIFTY is near its important level of 19400 after giving strong profit booking from its high. If Nifty gives a Gap up opening, it may move to the level of 19500. But all these aspects depend upon the Global cues.
| Highest Call Writing at | 19500 (1.1 CR) 19400 (1.6 CR) |
| Highest Put Writing at | 19300 ( 1 CR) 19200 (78 LK) |
Nifty Support and Resistance
| Support | 19350,19300 |
| Resistance | 19440,19500 |
Bank Nifty Daily Chart Prediction
Prediction For Wednesday Bank NIFTY can go up if it goes above 44100 or go down after the level of 43800 but all depend upon the Global cues.
Today, BANK NIFTY was weak as compared to nifty it goes down below its yesterday’s low. But today also bank nifty has again closed in red and closed below its critical level of 44000 which has made bank nifty weak again For Friday you can go with the strategy of sell on the rise.
| Highest Call Writing at | 44100 (26 LK) 44000 ( 44 LK) |
| Highest Put Writing at | 44000 (42 LK) 43800(30 LK) |
Bank Nifty Support and Resistance
| Support | 43850,43750 |
| Resistance | 44100,44250 |
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