Home ยป Stock Market Prediction for Nifty & Bank Nifty 02 Nov 2023

Stock Market Prediction for Nifty & Bank Nifty 02 Nov 2023

In Stock market today Nifty dropped below 19,000 points, leading to a 284-point decline in the Sensex, while the pharmaceutical and real estate sectors saw gains.

Stock Market Nifty Chart Prediction.

On November 1, both benchmark indices extended their losses for the second consecutive session, with the Nifty slipping below 19,000 points. The Sensex closed 283.60 points lower at 63,591.33, a 0.44 percent decline, while the Nifty ended down 90.40 points at 18,989.20, a 0.47 percent drop. In terms of sectoral performance, except for healthcare, oil & gas, and realty, all other sectoral indices saw losses, with auto, capital goods, metal, information technology, and power declining by 0.5-1.5 percent. The BSE midcap index fell by 0.4 percent, while the smallcap index closed flat. Top Nifty losers included Adani Enterprises, Coal India, Adani Ports, SBI Life Insurance, and Asian Paints, while gainers were Sun Pharma, BPCL, Hindalco Industries, Bajaj Auto, and Reliance Industries.

Prediction For Thursday NIFTY can go up if it goes above 19075 or go down after the level of 18900 but all depend upon the Global cues.

There are good chances of market going down as today market opened flat and after sometime it started down then after that it tock support near 19000 and closed at days low. If it goes beyond any level given above it will give a one side move on any side up or down. If Nifty gives flat opening, it may move to the level of 18850 or 19200 But all these aspects depend upon the Global cues.

Highest Call Writing at19000 (1.0 crores)
Highest Put Writing at19100 (82.6 lakhs)

Nifty Support and Resistance

Support 18950,18900

Bank Nifty Daily Chart Prediction

Prediction For Tuesday Bank NIFTY can go up if it goes above 42800 or go down after the level of 42500 but all depend upon the Global cues.

Today, BANK NIFTY opened flat in morning but after that there was more in range move it tock support near 42600 and closed in range. Today bank nifty has closed in green and closed above its critical level of 42700 which has made bank nifty strong again For Tuesday. you can go with the strategy of buy on dip.

Highest Call Writing at42800 (49.9 Lakhs)
Highest Put Writing at42500 (35.7 Lakhs)

Bank Nifty Support and Resistance

Support42,500 & 42200
Resistance42800 & 43000

Also, check our Article on Spinning Top Candlestick Pattern

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