In Stock Market India, Nifty outperforms, climbing above 21,650 as Sensex gains 491 points, led by the realty sector.
Stock Market Nifty Chart Prediction.
Closing higher on January 4, benchmark indices saw Nifty above 21,650.
The Sensex concluded, gaining 490.97 points or 0.69 percent at 71,847.57, while the Nifty was up 141.30 points or 0.66 percent at 21,658.60. Advancing shares amounted to 2267, declining shares were 1034, and unchanged shares were 79.
Top gainers on the Nifty include Bajaj Finance, NTPC, ONGC, Tata Consumer, and IndusInd Bank. BPCL, LTIMindtree, Dr Reddy’s Laboratories, HCL Technologies, and Hero MotoCorp were among the losers.
In the sectoral landscape, the Realty index surged 6.6 percent, power index rose 2 percent, while bank, capital goods, healthcare, and oil & gas showed an increase of 0.5-1 percent.
BSE Midcap and smallcap indices were both up by 1 percent.
Stock Prediction for 05th Jan 2023
| STOCK | Good Above | Weak Below |
| AMBUJACEM | 546 | 541 |
| BAJAJFINSV | 1722 | 1695 |
| IGL | 430 | 425 |
| MANAPPURAM | 177 | 174 |
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.
The Nifty outperformed as it bounced back after the last two negative trading days led by strong monthly business updates of leading banks, emphasizing robust credit growth, and closed above 21,650. If the indices open flat there is a strong resistance exactly at 21650 if opens above it then 21900 will be the crucial resistance. On the other hand, 21650 – 21600 acts as a support level for tomorrow.
| Highest Call Writing at | 21600 (2.2 Crore) |
| Highest Put Writing at | 21900 (1.8 Crore) |
Nifty Support and Resistance
| Support | 21650, 21600 |
| Resistance | 21650, 21900 |
Bank Nifty Daily Chart Prediction
Prediction For Friday BANK NIFTY can go up if it goes above 49000 or down after the level of 48000 but it all depends upon the Global cues.
Bank Nifty saw a strong recovery as the bulls successfully crossed the 48,000 level at the close. This breakthrough signals the continuation of the upward trend, suggesting a possible rise towards the target of 49,000 – 50,000. If there’s a pullback, the index has strong support at 48,000, acting as a protective zone for the bulls.
| Highest Call Writing at | 49000 (22.0 Lakhs) |
| Highest Put Writing at | 48000 (25.1 Lakhs) |
Bank Nifty Support and Resistance
| Support | 48000, 47700 |
| Resistance | 49000, 50000 |
Also, check our Article on the most common Indicators used in Swing Trading.
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