Stock Market closed lower on Budget day, with PSU Banks performing well while realty and metals faced declines.
Stock Market Nifty Chart Prediction.
On Budget day, Indian benchmark indices concluded with slight losses in a volatile session. The Sensex closed down 106.81 points at 71,645.30, and the Nifty was down 28.20 points at 21,697.50. Maruti Suzuki, Cipla, and Eicher Motors were among the top Nifty gainers, while UltraTech Cement and L&T faced declines. Sector-wise, auto, bank, FMCG, and power showed a mixed trend, adding 0.2-0.8 percent, while capital goods, metal, and realty dipped by a percent each. The BSE midcap index lost 0.4 percent, and the smallcap index ended 0.2 percent lower.
Stock Prediction for 02nd February 2024
STOCK | Good Above | Weak Below |
ICICIBANK | 1035 | 1020 |
METROPOLIS | 1640 | 1620 |
NTPC | 324 | 320 |
TRENT | 3108 | 3080 |
Prediction For Friday NIFTY can go up if it goes above 21830 or down after the level of 21700 but all depends upon the Global cues.
Nifty commenced the day with positive momentum, displaying a confined price range throughout the eventful session. Despite the day’s significance, the trading range remained narrow compared to recent sessions, resulting in a marginal decline of approximately 36 points for Nifty. Crucial support levels are identified at 21700 – 21500, while the immediate resistance zone is situated between 21830 – 21900.
Highest Call Writing at | 21830 (2.3 Crores) |
Highest Put Writing at | 21700 (2.1 Crores) |
Nifty Support and Resistance
Support | 21700, 21500 |
Resistance | 21830, 21900 |
Bank Nifty Daily Chart Prediction.
Prediction For Friday Bank NIFTY can go up if it goes above 46500 or down after the level of 46000 but it all depends upon the Global cues.
Bulls in Bank Nifty exhibited strength, closing above the 46000 level on the day of the interim budget. The overall sentiment remains optimistic, with support identified at 46000-45500. Looking upward, the immediate hurdle is at 46500 – 47000, and a successful breakthrough at this level is expected to initiate significant short-covering actions in the market.
Highest Call Writing at | 46,500 (21.4 Lakhs) |
Highest Put Writing at | 46,000 (22.3 Lakhs) |
Bank Nifty Support and Resistance
Support | 46,000, 45,500 |
Resistance | 46,500, 47,000 |
Also, check our Article on Difference Between Interim Budget and Union Budget 2024.
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