In Stock market today Nifty below 19,400, Sensex down 388 pts; PSU Banks outperform
Stock Market Nifty Chart Prediction.
On August 17, the benchmark stock market indices experienced a decline, with the Nifty index falling below the 19,400 level. The overall trend was marked by selling across various sectors, except for Public Sector Undertaking (PSU) Banks.
By the closing bell, the Sensex, which represents the performance of the top 30 companies listed on the Bombay Stock Exchange (BSE), dropped by 388.40 points or 0.59 percent, settling at 65,151.02. Similarly, the Nifty, representing the top 50 companies on the National Stock Exchange (NSE), witnessed a decline of 99.70 points or 0.51 percent, closing at 19,365.30.
The market activity for the day showed that 1777 shares advanced in value, while 1696 shares experienced declines, and 152 shares remained unchanged.
Among the Nifty’s top losers were companies like ITC, LTIMindtree, Divis Lab, Power Grid, and Reliance Industries. On the other hand, the gainers included Adani Ports, Titan Company, Adani Enterprises, Bajaj Auto, and State Bank of India (SBI).
With the exception of PSU Banks, all other sectoral indices concluded the day in negative territory. Sectors like capital goods, Oil & Gas, power, FMCG (Fast-Moving Consumer Goods), and Information Technology experienced declines ranging from 0.3 percent to 0.9 percent.
Interestingly, the broader market indices outperformed the main indices, as both the BSE midcap and smallcap indices recorded marginal gains.
Prediction For Friday NIFTY can go up if it goes above 19400 or go down after the level of 19300 but all depend upon the Global cues.
There are good chances of flat to slight Gap down opening for Friday as NIFTY is below its important level of 19400 after giving strong profit booking from its high. If Nifty gives a Gap down opening, it may move to the level of 19250. But all these aspects depend upon the Global cues.
| Highest Call Writing at | 19500 (1.1 CR) 19400 (96 LK) |
| Highest Put Writing at | 19350 ( 1.5 CR) 19000 (83 LK) |
Nifty Support and Resistance
| Support | 19300,19250 |
| Resistance | 19400,19450 |
Bank Nifty Daily Chart Prediction
Prediction For Thursday Bank NIFTY can go up if it goes above 44000 or go down after the level of 43800 but all depend upon the Global cues.
Today, BANK NIFTY was strong as compared to nifty it did not touch the yesterday’s low. But today also bank nifty has again closed in red but 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 | 44000 (42 LK) 43900 (1.1 CR) |
| Highest Put Writing at | 43900 (33 LK) 43800(56 LK) |
Bank Nifty Support and Resistance
| Support | 43750,43600 |
| Resistance | 44000,44100 |
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