In Stock Market Today, Nifty approaches 22,000, while Sensex rises +195 points; power, metal, and banking sectors performed well.
Stock Market Nifty Chart Prediction.
Indian benchmark indices closed positively after a volatile session on February 29.
At the end of trading, Nifty was at 21,982.80, up +31.60 points or +0.14 percent, while the Sensex stood at 72,500.30, gaining +195.42 points or 0.27 percent.
Top gainers on the Nifty included Adani Enterprises, Tata Consumer, M&M, IndusInd Bank, and Adani Ports, while losers were Apollo Hospitals, Bajaj Auto, LTIMindtree, Eicher Motors, and UPL.
In terms of sectors, all indices except healthcare ended positively, with banking, capital goods, metal, and power showing gains of 0.5-1 percent.
The BSE midcap index saw an increase of nearly 1 percent, while the smallcap index rose by 0.5 percent.
Stock Prediction for 01st March 2024.
| STOCK | Good Above | Weak Below |
| GODREJCP | 1252 | 1234 |
| MFSL | 977 | 962 |
| RELIANCE | 2943 | 2916 |
| TVSMOTOR | 2140 | 2100 |
Prediction For Thursday, NIFTY can go up if it goes above 22,200 or down after the level of 21,830 but all depends upon the Global cues.
On the day of monthly expiry, the Nifty faced ups and downs before finally ending unchanged. Currently, there seems to be a somewhat negative sentiment prevailing. Positioned at the lower end, there is crucial support at 21900; if the index holds above this level, there is a chance of seeing a recovery. However, dropping below 21900 could potentially push the index towards 21850.
| Highest Call Writing at | 22,000 (1.0 Crores) |
| Highest Put Writing at | 22,100 (1.1 Crores) |
Nifty Support and Resistance
| Support | 22,000, 21,900 |
| Resistance | 22,100, 22,200 |
Bank Nifty Daily Chart Prediction.
Prediction For Friday, Bank NIFTY can go up if it goes above 46,300 or down after the level of 46,100 but it all depends upon the Global cues.
The bulls in BankNifty demonstrated their power by protecting the important support level of 46100, leading to a close above it. This indicates strong bullish activity at lower levels. However, the index is currently facing notable resistance at 46300, and breaking decisively above this level is expected to prompt more short-covering, potentially driving the index towards the 46700 level. To confirm that the index has formed a bottom, there needs to be consistent trading above 46100 for several sessions.
| Highest Call Writing at | 46,100 (53.0 Lakhs) |
| Highest Put Writing at | 46,300 (47.5 Lakhs) |
Bank Nifty Support and Resistance
| Support | 46,100, 46,000 |
| Resistance | 46,300, 46,700 |
Also, learn what a Shooting Star Candlestick Pattern indicates.
Join our Upcoming Webinar on Identifying reversal points with the help of OI/PCR Data. Click Here To Join.
If you’d like to know how we analyze the market and provide accurate levels every day. then click on the Free Demo button below and change your trading life for good. 5X returns are possible in options trading If you have Spider Software in your trading system.
Disclaimer: The information provided in this Blog is for educational purposes only and should not be construed as financial advice. Trading in the stock market involves a significant level of risk and can result in both profits and losses. Spider Software & Team does not guarantee any specific outcome or profit from the use of the information provided in this Blog. It is the sole responsibility of the viewer to evaluate their own financial situation and to make their own decisions regarding any investments or trading strategies based on their individual financial goals, risk tolerance, and investment objectives. Spider Software & Team shall not be liable for any loss or damage, including without limitation any indirect, special, incidental or consequential loss or damage, arising from or in connection with the use of this blog or any information contained herein.
