In Stock Market Today, Nifty hovers around 22,350, and Sensex dips -195 points. IT and FMCG sectors decline while Autos show gains.
Stock Market Nifty Chart Prediction.
Indian benchmark indices ended volatile session on March 5. Nifty hovered around 22,350. Sensex closed lower by -195.16 points.
Top gainers were Tata Motors, Bharti Airtel, Bajaj Auto, SBI, and ONGC.
Losers included Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and SBI Life Insurance.
Auto index rose by +1.3 percent, PSU Bank index by +2.5 percent, while
IT and FMCG indices shed -1 percent each.
BSE midcap index remained flat, smallcap index down by -0.6 percent.
Stock Prediction for 05th March 2024.
| STOCK | Good Above | Weak Below |
| APOLLOTYRE | 546 | 540 |
| HINDPETRO | 529 | 523 |
| ICICIBANK | 1106 | 1089 |
| INDIGO | 3200 | 3164 |
Prediction For Wednesday, NIFTY can go up if it goes above 22,400 or down after the level of 22,200 but all depends upon the Global cues.
Nifty closed at 22,350.30, marking a decline of -49.30 points or -0.22 percent. After testing strong support at 22,300, the index formed a Doji candlestick, indicating uncertainty between buyers and sellers. A breakout above 22,400 could lead to upward momentum towards 22,500 and 22,600. Conversely, immediate support is seen at 22,200.
| Highest Call Writing at | 22,400 (65.2 Lakhs) |
| Highest Put Writing at | 22,200 (82.5 Lakhs) |
Nifty Support and Resistance
| Support | 22,200, 22,000 |
| Resistance | 22,400, 22,500 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday, Bank NIFTY can go up if it goes above 48,000 or down after the level of 47,000 but it all depends upon the Global cues.
Bank Nifty has shown strong performance compared to Nifty, and we anticipate this trend to persist. The key support range for Bank Nifty is between 47,000 and 46720, while the immediate resistance lies between 48000 and 48500.
| Highest Call Writing at | 48,000 (29.9 Lakhs) |
| Highest Put Writing at | 47,000 (37.0 Lakhs) |
Bank Nifty Support and Resistance
| Support | 47,000, 46,720 |
| Resistance | 48,000, 48,500 |
Also, learn what a Shooting Star Candlestick Pattern indicates.
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