In today’s Stock Market, Nifty maintains at 21,650, with the Sensex seeing a 379-point dip, while the pharma sector stands out with a strong performance.
Stock Market Nifty Chart Prediction.
In Stock Market Today Indian benchmark indices extended losses from a flat opening due to volatility and concerns over Red Sea disruptions. By 10:45 am, the Sensex was down 585.97 points (0.81%) at 71,685, and the Nifty was down 150 points at 21,583.
At the closing bell, the Sensex was down 168.66 points or 0.24 percent at 71,315.09, and the Nifty was down 38 points or 0.18 percent at 21,418.70.
Top performer on the Nifty included Coal India, Adani Ports, Sun Pharma, Divis Labs and Cipla , while Eicher Motors, M&M, UltraTech Cement, L&T and Kotak Mahindra Bank, were among the losers.
BSE Midcap and Smallcap indices ended on a flat note.
Stock Prediction for 03rd Jan 2023
| STOCK | Good Above | Weak Below |
| JINDALSTEL | 745 | 736 |
| TATACHEM | 1125 | 1106 |
| MCX | 3200 | 3164 |
| ZEEL | 289 | 285 |
Prediction For Wednesday NIFTY can go up if it goes above 21800 or down after the level of 21500 but all depends upon the Global cues.
A bearish candle on the daily Nifty chart signals a potential downward trend. Sentiment is expected to stay bearish below 21,750, with possible selling pressure on any upward movement towards that level. A clear breakout above 21,750 could favour the bulls, while support lies at 21,500.
| Highest Call Writing at | 21800 (1.0 Crore) |
| Highest Put Writing at | 21500 (66.9 Lakhs) |
Nifty Support and Resistance
| Support | 21500, 21000 |
| Resistance | 21800, 21700 |
Bank Nifty Daily Chart Prediction
Prediction For Wednesday BANK NIFTY can go up if it goes above 50000 or down after the level of 47000 but it all depends upon the Global cues.
Bearish pressure dominated the Bank Nifty throughout the trading day, resulting in a closure below the significant support level of 48,000. For a revival of the upward trend and a return to positive momentum, the index must successfully breach the resistance at 48,300, aiming for levels around 49,000 to 50,000.
| Highest Call Writing at | 50000 (49.9 Lakhs) |
| Highest Put Writing at | 47000 (31.0 Lakhs) |
Bank Nifty Support and Resistance
| Support | 48000, 47000 |
| Resistance | 50000 48000 |
Also, check our Article on the most common Indicators used in Swing Trading.
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