In the Stock Market Today, Nifty falls below 24,750, and Sensex drops by 886 points; auto, IT, and real estate are the biggest losers.
Stock Market Nifty Chart Prediction.
On August 05, The Sensex fell by 885.60 points, to 80,981.95, while the Nifty dropped by 293.20 points, to 24,717.70. There were 1,426 shares that gained, -1,960 shares that lost value, and 83 shares that remained unchanged.
Top Nifty gainers: Divis Labs, HDFC Bank, Dr Reddy’s Labs, Sun Pharma and Kotak Mahindra Bank,
Top Nifty Losers: Eicher Motors, Maruti Suzuki, Tata Motors, Hindalco Industries, JSW Steel.
All sector indices ended in the red, except for pharma and healthcare. Auto, energy, PSU bank, IT, metal, and realty sectors fell by 1-3 percent.
BSE Midcap index shed 1% and smallcap index fell 0.5%
Stock Prediction for 05th August 2024.
| STOCK | Good Above | Weak Below |
| BIOCON | 351 | 346 |
| HDFCBANK | 1661 | 1640 |
| NESTLEIND | 2500 | 2475 |
| NTPC | 420 | 415 |
Prediction For Monday, NIFTY can go up if it goes above 24,800 or down after the level of 24,600 but it all depends upon the Global cues.
Nifty opened with a gap down and experienced weak price action throughout the day, closing approximately 293 points lower. On the daily charts, it closed below the levels of the past four trading sessions. The breakout attempt failed as there was no follow-through buying interest. Resistance on the upside is at 24,800-25,000, while support on the downside is at 24,600-24,200.
| Highest Call Writing at | 24,800 (77.4 Lakhs) |
| Highest Put Writing at | 24,600 (46.6 Lakhs) |
Nifty Support and Resistance
| Support | 24,600-24,200 |
| Resistance | 24,800- 25,000 |
Bank Nifty Daily Chart Prediction.
Prediction For Monday, Bank NIFTY can go up if it goes above 52,000 or down after the level of 51,300 but it all depends upon the Global cues.
Bank Nifty consolidated around 51,318, making its decline less severe compared to Nifty. It has been underperforming and might continue this trend. On the weekly chart, Bank Nifty has formed an Inside Bar pattern. The resistance levels are at 52,000-52,500, and the support levels are at 51,300-50,500.
| Highest Call Writing at | 52,000 (29.7 Lakhs) |
| Highest Put Writing at | 51,300 (15.5 Lakhs) |
Bank Nifty Support and Resistance
| Support | 51,300-50,500 |
| Resistance | 52,000-52,500 |
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