In Stock market today, Nifty hit a time-high mark whereas Bank Nifty ended above 44800; both the indices broadly ended in the green.
Stock Market Nifty Chart Prediction.
On July 14, the market witnessed another day of remarkable performance, with the Sensex and Nifty reaching new record highs. The surge was primarily driven by the strong performance of information technology (IT) stocks. By the end of the trading session, the Sensex rose by 502.01 points or 0.77 percent to reach 66,060.90, while the Nifty increased by 150.70 points or 0.78 percent, closing at 19,564.50.
The positive momentum in the market can be attributed to several factors. The IT sector, in particular, played a significant role in driving the market gains. IT companies have been witnessing robust growth due to increased demand for digital services, cloud computing, and other technology-related solutions. Investors responded positively to this growth potential, resulting in a surge in IT stocks and subsequently boosting the overall market performance.
For Monday NIFTY can open the gap up to continue the Friday rally.
There are good chances of a slight Gap up opening for Monday as NIFTY has hit an All-Time High Record. If Nifty gives a Gap Up opening, it may move to its new All-Time High Record. But all these aspects depend upon the Global cues.
Bank Nifty Daily Chart Prediction
Bank Nifty has been correcting for the past few week and is now trading in a downward-sloping channel. The index has reached the lower end of this channel, which is also the 50% Fibonacci retracement level (44600). This level is likely to attract buying interest, and we expect Bank Nifty to start recovering from here.
Overall, Bank Nifty has reached in the range of 45000 on the upside and 44500 on the downside.
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