In the Stock Market Today, Nifty slides below 22,500, Sensex plunges 733 points; metals steal the spotlight.
Stock Market Nifty Chart Prediction.
On April 03, Sensex dropped by 732.96 points at 73,878.15, while the Nifty fell by 172.35 points, at 22,475.80. Advancing shares numbered 1,241, declining shares were -2,013, and 79 remained unchanged.
Top Nifty gainers: L&T, Maruti Suzuki, Reliance Industries, Nestle India and Bharti Airtel,
Top Nifty Losers: Coal India, Grasim Industries, ONGC, Dr Reddy’s Laboratories and Hindalco Industries.
Except for the metal sector, all other sectoral indices closed in negative territory. Capital goods, realty, telecom, & PSU Bank each witnessed a decline of 1%, while oil & gas, auto, Information Technology, and Media sectors all experienced a 0.5% drop.
BSE midcap index fell 0.2% and smallcap index down 0.5%.
Stock Prediction for 06th May 2024.
| STOCK | Good Above | Weak Below |
| CIPLA | 1432 | 1410 |
| CONCOR | 1065 | 1054 |
| GODREJCP | 1260 | 1242 |
| HINDALCO | 650 | 643 |
Prediction For Monday, NIFTY can go up if it goes above 22,800 or down after the level of 22,500 but all depends upon the Global cues.
Nifty experienced significant volatility today, ending with a nearly one percent loss. Despite starting strong on global cues, profit-taking in heavyweight stocks wiped out early gains, pushing the index into negative territory. This sharp drop nullified gains from the past four sessions. We suggest caution and hedged positions if the Nifty drops below 22,400. It’s important to watch the US markets closely for guidance. Resistance is at 22,800-22,900, and support is at 22,500-22,300.
| Highest Call Writing at | 22,800 (17.2 Lakhs) |
| Highest Put Writing at | 22,500 (39.8 Lakhs) |
Nifty Support and Resistance
| Support | 22,500, 22,300 |
| Resistance | 22,800, 22,900 |
Bank Nifty Daily Chart Prediction.
Prediction For Monday, Bank NIFTY can go up if it goes above 49,500 or down after the level of 48,500 but it all depends upon the Global cues.
BankNifty exhibited a reversal at the upper boundary of the ascending channel, indicated by the presence of a Shooting Star candlestick pattern, hinting at a potential correction. Meanwhile, the Auto and Metal sectors are adhering to anticipated trajectories, reinforcing our bullish stance. Key support levels are identified at 48,500-48,000, while resistance levels are noted at 49,500-50,000.
| Highest Call Writing at | 49,500 (36.2 Lakhs) |
| Highest Put Writing at | 48,500 (16.5 Lakhs) |
Bank Nifty Support and Resistance
| Support | 48,500, 48,000 |
| Resistance | 49,500, 50,000 |
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