In Stock markets today Nifty slipping below 19,450 points and a 286-point drop in the Sensex reflect a day of underperformance in mid and small-cap stocks.
Stock Market Nifty Chart Prediction.
Despite the ongoing market weakness influenced by both local and global factors, the Nifty experienced a 1.3% decline over the week, with the IT sector bearing the brunt of a nearly 3% drop, primarily attributed to profit warnings from Accenture. This vulnerability is exacerbated by the rising inflation and record yields in the US, prompting risk aversion in emerging markets. Additionally, the surge in job openings in the US indicates economic resilience. As we enter earnings season, management commentary on demand and margin prospects in the face of rising raw material costs due to increasing crude prices will be of paramount importance.
Prediction For Thursday NIFTY can go up if it goes above 19500 or go down after the level of 19325 but all depend upon the Global cues.
There are good chances of market going in downward direction as today market opened gapdown and then it went more down finally tock support near level of 19335. After that there was some recovery to close near level of 19450. 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 19500 or 19400 But all these aspects depend upon the Global cues. You can go with the strategy of Hero to zero as there is expiry in nifty.
| Highest Call Writing at | 19500 (1.1 CR) |
| Highest Put Writing at | 19,400 (1.3 CR) |
Nifty Support and Resistance
| Support | 19400,19335 |
| Resistance | 19500,19550 |
Bank Nifty Daily Chart Prediction
Prediction For Thursday Bank NIFTY can go up if it goes above 44050 or go down after the level of 43850 but all depend upon the Global cues.
Today, BANK NIFTY opened gap down in morning but after that there was more in range. Bank nifty tock support near level of 43850. Today bank nifty has closed red and closed near its critical level of 44000 which has made bank nifty weak again For Thursday you can go with the strategy of sell on rise.
| Highest Call Writing at | 43900 (72 Lakhs) |
| Highest Put Writing at | 43900 (53 Lakhs) |
Bank Nifty Support and Resistance
| Support | 43850,43600 |
| Resistance | 44100,44350 |
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