In Stock market today, Nifty ended at 19,750, and Sensex up 367 points; barring FMCG all sectors are in green.
Stock Market Nifty Chart Prediction.
The trading week for Indian equities started with a slow and cautious beginning, as the market showed a tepid note. However, the Nifty50 received support from its 20-day moving average (20DMA), which acted as a crucial level for the index. This support helped the Nifty50 to reverse from lower levels and led to follow-up buying across various sectors.
As a result, the Nifty50 index closed the day at 19,753.80, registering a gain of 107.75 points. It is important to note that the Nifty50 closed with gains despite the initial sluggishness in the market.
During the trading session, the Metal, Energy, and IT sectors were the top gainers and showed notable strength. The FMCG sector, however, was an exception and experienced losses on that particular trading day.
Furthermore, the broader markets performed exceptionally well, outperforming the frontline index. The BSE Midcap and Smallcap indices both ended the day with gains of more than 0.85%, indicating that smaller companies fared better than the larger ones on that day.
From a technical perspective, both the Nifty and BankNifty formed a bullish candle on the daily chart, signaling a continuation of the uptrend. Additionally, the 20DMA provided immediate support for both indices, further reinforcing the positive sentiment in the market.
Prediction For Tuesday NIFTY can open Gap up but all depend upon the Global cues.
There are good chances of slight Gap up opening for Tuesday as NIFTY is closed 100 points up after giving strong bounce from its opening low. If Nifty gives a Gap up opening, it may move to the level of 19800. But all these aspects depend upon the Global cues.
| Highest Call Writing at | 19800 |
| Highest Put Writing at | 19700 |
Nifty Support and Resistance
| Support | 19600,19700 |
| Resistance | 19820,19900 |
Bank Nifty Daily Chart Prediction
Today, BANK NIFTY was more weak as compared to nifty it was mostly in the uptrend with high volatility. Bank nifty gave a sharp recovery from its opening low. But bank nifty has closed above its critical level of 45500 which has made bank nifty strong For Tuesday you can go with the strategy of Buy on rise.
| Highest Call Writing at | 45500,45600 |
| Highest Put Writing at | 45500,44000 |
Bank Nifty Support and Resistance
| Support | 45500,45350 |
| Resistance | 45800,45900 |
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