In Stock Market Today, Near 22,400, Nifty concludes; Insurance stocks see a surge of +1-3%, while wind players witness a slump of -3-5%.
Stock Market Nifty Chart Prediction.
The Nifty reached 22,405.60, up by +27.20 points or +0.12 percent; whereas, Sensex stood at 73,856.05, up by +49.90 points or +0.07 percent.
Among the sectors, banks, energy, infra, and pharma witnessed gains, whereas
information technology, metals, FMCG, and automobile faced pressure.
Top gainers were NTPC, HDFC Life, and Power Grid,
while JSW Steel, Eicher Motors, and M&M experienced significant declines.
Stock Prediction for 05th March 2024.
| STOCK | Good Above | Weak Below |
| IGL | 451 | 446 |
| DLF | 938 | 928 |
| DRREDDY | 6360 | 6300 |
| GRANULES | 473 | 467 |
Prediction For Tuesday, NIFTY can go up if it goes above 22,440 or down after the level of 22,200 but all depends upon the Global cues.
With a consolidated move, Nifty began the week, forming a Doji candle on the daily chart. Despite this, the bullish sentiment prevails. Anticipating a decisive break above 22,440 to enhance momentum, targeting 22,800 on the upside. Support is set at 22,200, offering buying opportunities during pullbacks to this level.
| Highest Call Writing at | 22,440 ( 64.8 Lakhs) |
| Highest Put Writing at | 22,200 (86.0 Lakhs) |
Nifty Support and Resistance
| Support | 22,200, 22,000 |
| Resistance | 22,440, 22,800 |
Bank Nifty Daily Chart Prediction.
Prediction For Tuesday, Bank NIFTY can go up if it goes above 47,490 or down after the level of 47,000 but it all depends upon the Global cues.
Demonstrating resilience, the Bank Nifty index sustained strength, staying above the critical support level of 47,000. “The index remains bullish, with the possibility of reaching new all-time highs soon. Immediate resistance lies at 47,940, and a breakthrough above this level is expected to accelerate momentum towards potential lifetime highs, possibly around 49,000.
| Highest Call Writing at | 47,490 (30.3 Lakhs) |
| Highest Put Writing at | 47,000 (29.6Lakhs) |
Bank Nifty Support and Resistance
| Support | 47,000, 46,320 |
| Resistance | 47,940, 49,000 |
Also, learn what a Shooting Star Candlestick Pattern indicates.
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