In Stock market today, Nifty consolidated in between 100 points range whereas Bank Nifty was a little weak
Stock Market Nifty Chart Prediction.
Index experienced overall weakness, but it managed to maintain a slightly positive trend due to strong buying in heavyweight stocks like Reliance. The decline in the market was primarily led by the IT sector, which is about to start the Q1 result season with anticipated lower earnings. Moreover, the cues from the US markets were unfavorable, as concerns regarding another interest rate increase persist, despite expectations of a rapid decline in future US Consumer Price Index (CPI) inflation data.
There are good chances of flat opening tomorrow on NIFTY.
As American market could be also trading in range as they will want for CPI data. CPI data could be the next trigger for American market and this could decide the next move in Indian market till then nifty will be in the range of 19200 to 19500
Bank Nifty Daily Chart Prediction
Today, BANK NIFTY managed to close in flat but it was weak compared to nifty; it was mostly range bound but with high volatility. For tomorrow Bank nifty could be slightly weak as compared to nifty but it will be in range as it will wait for the next trigger in market on the lower side. Bank Nifty has a support at 44500 and it has a strong resistance at 45200.
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