In Stock market today, Nifty crossed the 19,950 mark whereas Bank Nifty ended above 46100; both the indices broadly ended in Green
Stock Market Nifty Chart Prediction.
As of the information provided, the Indian shares experienced a rise to fresh record highs, primarily driven by gains in the Fast Moving Consumer Goods (FMCG) and bank stocks. However, high-weightage information technology (IT) stocks faced losses of over 1%, leading the decline in the benchmarks.
A noteworthy event during this time was the trading of Reliance Industries’ shares in a special session to determine the share value of its demerged financial services unit, Jio Financial Services. The discovered price for Jio Financial Services was 261.85 rupees, which surpassed street estimates of 160-190 rupees.
The previous winning streak of IT companies had been influenced by data showing a moderation in U.S. inflation. IT firms, being significant players in the Indian stock market, earn a considerable portion of their revenue from the U.S. and Europe.
For Friday NIFTY can open gap up but all depend upon the Global cues.
The Nifty ended positively, but the most important aspect is that it closed above 19,900. The reason for this is as there was Short Covering on the expiry day that made it nifty to cross the 19,900 mark.
There are good chances of a slight Gap up to a flat opening tomorrow as NIFTY has crossed its crucial Level of 19,900 and closed just below the same. If Nifty gives a Gap Up opening, it may touch the All-Time High Record. But all these aspects depend upon the Global cues as well.
For Friday resistance will be 20000 where else support will come at the level of 19900
Bank Nifty Daily Chart Prediction
Today, BANK NIFTY strong and most importantly it crossed the important level of 46000 and closed above that level this has made bank nifty more strong for tomorrow we can expect more fireworks from bank nifty
Friday Bank nifty resistance will be 46500 where else support will be 46000
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