In the Stock Market Today, Sensex falls by 354 points, Nifty slips below 21,800; banks and FMCG stocks decline while auto and metal stocks perform well.
Stock Market Nifty Chart Prediction.
The benchmark indices, Sensex and Nifty, experienced volatility throughout the day, eventually closing in negative territory. The BSE Sensex concluded with a decrease of 380.32 points, or 0.53%, settling at 71,705.31, whereas the Nifty observed a decline of 87.95 points, or 0.40%, closing at 21,765.85.. Among the Nifty top losers were UPL, Bharti Airtel, Bajaj Finance, HDFC Life and Grasim Industries, while gainers included Tata Motors, Coal India, BPCL, Sun Pharma and Cipla. In terms of sectors, bank, capital goods, Information Technology, and FMCG witnessed a decline ranging from 0.3% to 0.9%, whereas auto, pharma, metal, oil & gas, and realty saw an increase of 1% each.The BSE midcap and smallcap indices ended on flat note.
Stock Prediction for 06th February 2024
| STOCK | Good Above | Weak Below |
| ICICIBANK | 1025 | 1015 |
| M&M | 1701 | 1681 |
| PERSISTENT | 8560 | 8510 |
| TATASTEEL | 144 | 140 |
Prediction For Monday NIFTY can go up if it goes above 22000 or down after the level of 21700 but all depends upon the Global cues.
The Nifty started well but ended negatively, dropping around 82 points. Daily charts show continued selling pressure near the upper boundary at 22000, while hourly momentum indicates a weakening upward trend. Expect ongoing range-bound trading until a clear break below 22000 or above 21000 occurs. However, these scenarios are contingent on global cues.
| Highest Call Writing at | 22000 (74.5 Lakhs) |
| Highest Put Writing at | 21700 (47.4 Lakhs) |
Nifty Support and Resistance
| Support | 21,700, 21,000 |
| Resistance | 22,000, 23,000 |
Bank Nifty Daily Chart Prediction.
Prediction For Monday Bank NIFTY can go up if it goes above 46500 or down after the level of 45500 but it all depends upon the Global cues.
Today, Bank Nifty index is currently in a situation where it’s more likely to go down than up. It’s finding it hard to go past 46,500 points. If it drops below 45,400 points, we might see more selling happening. Unless it manages to close above 46,500 points convincingly, it’s better to think of it as a market where selling is the safer option, with support likely at 45500 and resistance at 46500.
| Highest Call Writing at | 46,500 (31.6 Lakhs) |
| Highest Put Writing at | 45,500 (20.0 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,500, 44,000 |
| Resistance | 46,500, 47,000 |
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