In Stock market today, Nifty ended above 19,750, Sensex up 351 pts led by capital goods, FMCG, realty
Stock Market Nifty Chart Prediction.
On Wednesday, the Indian equity benchmark indices, Sensex and Nifty, experienced a rebound as they climbed higher. The Sensex gained 350 points, closing at 66,707, while the Nifty rose almost 100 points, ending at 19,778. The rally was supported by the positive performance of the US markets, anticipating the Federal Reserve’s decision on a rate hike later in the day.
One of the primary drivers of the market surge was strong corporate earnings. Larsen & Toubro, an Indian multinational conglomerate, saw a significant jump of 3.5% in its stock price. Other major gainers included companies like ITC, Sun Pharma, Reliance Industries, and Power Grid. However, Mahindra & Mahindra (M&M) and SBI Life underperformed and dragged down the overall market performance.
The sectoral indices also performed well, with almost all of them ending in the green. The PSU Bank, FMCG (Fast-Moving Consumer Goods), and Realty sectors registered gains of over 1%. The Consumer Durable sector was the only one that closed in the red.
For Thursday’s opening in NIFTY depend upon the FOMC meeting in the US.
On Thursday nifty can open either side as there is an FOMC meeting in the US. Nifty can either open a gap up or a gap down based on the meeting outcome and the governor’s commentary.
For Thursday resistance will be 19800 and then 19900 where else support will come at the level of 19600
Bank Nifty Daily Chart Prediction
The same goes with bank nifty as there is a big event in the US. It is very difficult to predict the opening in bank nifty as nifty it can go either side but after today’s event bank nifty will decide one direction and move towards it.
Thursday Bank nifty resistance will be 46100 and 46200 whereas else support will be 45850 and 45900.
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