In the Stock Market Today, Nifty surpasses 25,000, while Sensex reaches 82,000 on a record-breaking day; gains seen in oil and gas sectors.
Stock Market Nifty Chart Prediction.
On August 01, The Sensex increased by 126.21 points reach 81,867.55, while the Nifty rose by 59.70 points to 25,010.90. There were 1,237 advancing shares, -2,181 declining shares, and 78 shares remained unchanged.
In terms of sectors, all indices closed in the green except for realty and PSU Bank. The media, power, healthcare, metal, and pharma sectors each gained 1 percent.
Top Nifty gainers: Coal India, Power Grid Corp, Shriram Finance, Dr Reddy’s Labs and ONGC
Top Nifty Losers: M&M, Hero MotoCorp, Tata Steel, Bajaj Finserv and SBI.
BSE Midcap index increased by 1% and Smallcap index up by 1%.
Stock Prediction for 02nd August 2024.
| STOCK | Good Above | Weak Below |
| CHAMBLFERT | 528 | 522 |
| DRREDDY | 6900 | 6850 |
| M&MFIN | 308 | 304 |
| TATACONSUM | 1220 | 1200 |
Prediction For Thursday, NIFTY can go up if it goes above 25,000 or down after the level of 24,900 but it all depends upon the Global cues.
Nifty opened with a gap up today, consolidating throughout the day to finish with a gain of around 60 points. The daily charts show that Nifty has broken out of its sideways consolidation to the upside. We anticipate the rally to extend towards 25,000-25,500 in the short term, with support levels at 24,900-24,500.
| Highest Call Writing at | 25,000 (1.4 Crore) |
| Highest Put Writing at | 24,900 (2.2 Crore) |
Nifty Support and Resistance
| Support | 24,900-24,500 |
| Resistance | 25,000- 25,500 |
Bank Nifty Daily Chart Prediction.
Prediction For Thursday, Bank NIFTY can go up if it goes above 52,000 or down after the level of 51,000 but it all depends upon the Global cues.
Bank Nifty remained in a rangebound price action, forming a symmetrical triangle pattern during consolidation. A breakout from this range will determine the future trend. Therefore, we continue to maintain a rangebound outlook for Bank Nifty. Resistance levels are at 52,000-52,600, while support levels are at 51,200-50,500.
| Highest Call Writing at | 52,000 (29.0 Lakhs) |
| Highest Put Writing at | 51,200 (14.4 Lakhs) |
Bank Nifty Support and Resistance
| Support | 51,200-50,500 |
| Resistance | 52,000-52,600 |
Power of Algorithms in Options Trading, Try Spider Now: Register Now
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.
