In the Stock market today, Nifty ended below 19,400, and Sensex dropped for the 3rd day in a row, closing 542 points lower; Midcap and Smallcap indices remained unchanged, while pharma stocks showed strength against the prevailing trend.
Stock Market Nifty Chart Prediction.
On August 3, the Indian benchmark indices closed lower, with Nifty below 19,400. The Sensex declined by 542.10 points or 0.82 percent to 65,240.68, and the Nifty fell by 144.80 points or 0.74 percent to 19,381.70.
Some of the gainers on the Nifty included Adani Enterprises, Eicher Motors, Divis Labs, Infosys, and Adani Ports.
On the other hand, among the biggest losers on the Nifty were companies like UPL, Titan Company, Bajaj Finserv, ONGC, and ICICI Bank.
In the stock market, the pharma sector increased by 1%, which means pharmaceutical companies’ stocks performed well. On the other hand, the bank, metal, oil & gas, and realty sectors declined by 1-2%, indicating a drop in the stock prices of companies in these industries.
The BSE Midcap and Smallcap indices remained unchanged, with no significant increase or decrease in the stocks of mid-sized and small-sized companies.
Prediction For Friday NIFTY can open Flat near to 19,400 but it all depends upon the Global cues.
Nifty experienced a decline as bearish sentiments continued to dominate. The index sharply dropped below the 19500 level, but it found support around 19300 during the day. Going forward, 19300 is expected to be a crucial support level, while resistance is seen at 19550.
| Highest Call Writing at | 19,400 (1.6 crores) |
| Highest Put Writing at | 19,300 (1.2 crores) |
Nifty Support and Resistance
| Support | 19,350 & 19,300 |
| Resistance | 19500 & 19,550 |
Bank Nifty Daily Chart Prediction
Bank Nifty index is currently dominated by bearish sentiments, resulting in a correction and bringing the index to the 44500-44400 zone. This zone is crucial as it serves as a significant support level for the index. If the index fails to hold this level, we might see further declines towards 44000 levels. However, there is a chance of a rebound if the index manages to sustain the current support zone. In that scenario, the index could potentially move towards 44600 to 45000 levels.
| Highest Call Writing at | 44600 (60.5 Lakhs) |
| Highest Put Writing at | 44500 (53.7 Lakhs) |
Bank Nifty Support and Resistance
| Support | 44500 & 44400 |
| Resistance | 44600 & 45000 |
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 is possible in options trading If you have Spider Software in your trading system.
Also, Check out our article on Important Bearish Candlestick Patterns every Trader should know.
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.
