Stock Market Nifty Chart Prediction.
On May 29, the stock market closed on a downturn with major indices recording losses. The BSE Sensex dropped by 684.37 points, a decline of 0.91%, ending the session at 74,486.08. The NSE Nifty 50 also slipped, losing 184.20 points or 0.80%, to close at 22,703.95. Bank Nifty saw a significant dip, falling 579 points or 1.18%, to settle at 48,563.05. Meanwhile, the Nifty Midcap 100 recorded a smaller loss, down 212.55 points or 0.41%, closing at 52,082.25.
Top Nifty gainers: Hindalco, Divislab, PowerGrid, Bajaj-Auto and CIPLA,
Top Nifty Losers: HDFCLife, SBI Life Insurance, Tech Mahindra and Tata Consumer.
Prediction For Thursday, NIFTY can dip further up to 22,500.
The Nifty index, currently at 22,705, has entered a negative trend in the latest trading session. Traders can consider going short on Nifty with a stop-loss at 22,966 on a daily closing basis. Nifty will remain bearish as long as it trades below the 22,966 level.
Keep an eye on these support and resistance levels for informed trading decisions.
| Highest Call Writing at | 23,000 (1.3 Cr) |
| Highest Put Writing at | 22,500 (81.2 Lakhs) |
Nifty Support and Resistance Levels
| Support | 22652 – 22599 – 22512 |
| Resistance | 22792 – 22879 – 22932 |
Bank Nifty Daily Chart Prediction.
Prediction For Thursday, Bank NIFTY can dip further upto 47,902
The Bank Nifty index, now at 48,501, has entered a negative trend in the recent trading session. Traders may consider short positions in Bank Nifty with a stop-loss at 49,308 on a daily closing basis. Bank Nifty remains bearish as long as it trades below the 49,308 level.
| Highest Call Writing at | 48,500 (1.3 Cr) |
| Highest Put Writing at | 48,500 (1.0 Cr) |
Bank Nifty Support and Resistance
| Support | 48,261 – 48,021 – 47,640 |
| Resistance | 48,882 – 49,263 – 49,503 |
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