In the Stock Market Today, Nifty closed at 21854; Sensex gains 440 points. Oil & gas, IT, metal sectors advance, while banks decline.
Stock Market Nifty Chart Prediction.
Indian benchmark indices concluded positively in a volatile session on February 2, with Nifty hovering around 21,850. At the close, Sensex gained 440.33 points or 0.61 percent at 72,085.63, and Nifty surged by 156.30 points or 0.72 percent at 21,853.80. Among the top Nifty gainers were BPCL, Power Grid Corporation, ONGC, Adani Ports, and NTPC, while losers included Eicher Motors, Axis Bank, HDFC Life, HDFC Bank, and HUL. The oil & gas sector led with a 4 percent increase, and IT, metal, realty, and power sectors rose by 1-2 percent. On the other hand, the bank index witnessed a 0.5 percent decline. The BSE Midcap index rose by 0.8 percent, and the Smallcap index added 0.5 percent.
Stock Prediction for 05th February 2024
| STOCK | Good Above | Weak Below |
| BAJFINANCE | 6886 | 6806 |
| IGL | 446 | 441 |
| TECHM | 1350 | 1332 |
| VOLTAS | 1068 | 1050 |
Prediction For Monday NIFTY can go up if it goes above 22200 or down after the level of 21600 but all depends upon the Global cues.
Starting positively, Nifty reached a new all-time high of 22,126.80 but encountered strong selling pressure, leading to a sharp selloff. This pushed Nifty back within the range of 21,200 to 21,900. Key support levels are positioned at 21,600 to 21,450, while an immediate hurdle zone is at 22,200 to 22,250.
| Highest Call Writing at | 22200 (51.5 Lakhs) |
| Highest Put Writing at | 21600 (47.1 Lakhs) |
Nifty Support and Resistance
| Support | 21,600, 21,450 |
| Resistance | 22,200, 22,250 |
Bank Nifty Daily Chart Prediction.
Prediction For Monday Bank NIFTY can go up if it goes above 47000 or down after the level of 45000 but it all depends upon the Global cues.
Bank Nifty bears regain ed control as the index failed to surpass the crucial level of 46500 on a closing basis. The immediate support for the index is situated at 45000, and a breach below this level is anticipated to intensify selling pressure, potentially pushing the index towards the 44000 mark. On the upward side, the resistance level is 47,000 to 48,500.
| Highest Call Writing at | 47,000 (29.8 Lakhs) |
| Highest Put Writing at | 45,000 (19.9 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,000, 44,000 |
| Resistance | 47,000, 48,500 |
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