In the Stock Market Today, Ahead of tomorrow’s Interim Budget, Nifty reaches 21,700, and Sensex gains 612 points.
Stock Market Nifty Chart Prediction.
Indian benchmark indices closed positively on January 31 ahead of the budget and Fed rates decision. Top Nifty gainers were Dr Reddy’s Laboratories, Eicher Motors, Sun Pharma, Divis Labs, Tata Motors, while losers included L&T, Titan Company, Tata Consumer, BPCL, and Kotak Mahindra Bank. All sectoral indices, except capital goods, ended in the green, with auto, bank, healthcare, power, metal, and realty up 1-2 percent each. The BSE midcap index added 1.5 percent, and the smallcap index rose nearly 2 percent.
Stock Prediction for 01st February 2024
| STOCK | Good Above | Weak Below |
| BHARTIARTL | 1175 | 1160 |
| GRANULES | 416 | 411 |
| RELIANCE | 2862 | 2836 |
| SIEMENS | 4160 | 4128 |
Prediction For Thursday NIFTY can go up if it goes above 22000 or down after the level of 21500 but all depends upon the Global cues.
The market began the day with a downward trend, but it found solid support near the 21,450 level, prompting a reversal. If there’s a clear breakthrough above 21,800, it would indicate a breakout from the pattern, targeting 22,000 as a resistance. The closest support is at 21,500.
| Highest Call Writing at | 22000 (71.7 Lakhs) |
| Highest Put Writing at | 21500 (81.5 Lakhs) |
Nifty Support and Resistance
| Support | 21,500, 21,240 |
| Resistance | 22,000, 22,130 |
Bank Nifty Daily Chart Prediction.
Prediction For Thursday Bank NIFTY can go up if it goes above 46100 or down after the level of 45900 but it all depends upon the Global cues.
Bank Nifty experienced a notable rise throughout the day, reaching towards the 46,000 level. It is now heading towards significant barriers around the range of 46,100 – 46,500. This suggests that the ongoing upward movement may continue in the coming days. Conversely, the 45,900 level is crucial as a support zone on the downside.
| Highest Call Writing at | 46,100 (77.1 Lakhs) |
| Highest Put Writing at | 45,900 (45.2 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,900, 45,500 |
| Resistance | 46,100, 46,500 |
Also, check our Article on the Impact of Budget 2024 on the Stock Market.
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