Today, the Nifty fell below 23,992.55 and the Sensex dropped by 125.84 points. Both indices ended slightly lower after a volatile session.
Stock Market Nifty Chart Prediction.
On August 07, The Sensex fell by 125.84 points, to 78,633.56, while the Nifty dropped by 63.05 points, to 23,992.55. About 129 shares remain unchanged.
Top Nifty gainers: Britannia Industries, JSW Steel, HUL, L&T and Tech Mahindra.
Top Nifty Losers: HDFC Life, SBI Life Insurance, Shriram Finance, BPCL and SBI.
In sector performance, auto, banking, and oil & gas fell by 0.5% each, while IT, metal, and real estate sectors rose by 0.3% to 0.8%.
The BSE midcap and smallcap indices ended shed 0.5 percent each.
Stock Prediction for 07th August 2024.
| STOCK | Good Above | Weak Below |
| GODREJCP | 1482 | 1463 |
| HCLTECH | 1600 | 1580 |
| IGL | 541 | 535 |
| LT | 3600 | 3570 |
Prediction For Wednesday, NIFTY can go up if it goes above 24,400 or down after the level of 24,060 but it all depends upon the Global cues.
The index opened with a green candle, showing early gains, but ended up forming a red candle as it gradually lost those gains. Resistance on the upside is at 24,400-24,720, while support on the downside is at 24,060-23,890.
| Highest Call Writing at | 24,400 (65.6 Lakhs) |
| Highest Put Writing at | 24,060 (65.6 Lakhs) |
Nifty Support and Resistance
| Support | 24,060-23,890 |
| Resistance | 24,400-24,700 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday, Bank NIFTY can go up if it goes above 51,000 or down after the level of 49,670 but it all depends upon the Global cues.
The Bank Nifty fell and ended at 49,770, forming an M-shaped candlestick pattern and closing in red. The resistance levels are at 51,000-51,500, and the support levels are at 49,670–49,000.
| Highest Call Writing at | 51,000 (41.6 Lakhs) |
| Highest Put Writing at | 49,670 (21.3 Lakhs) |
Bank Nifty Support and Resistance
| Support | 51,000-51,500 |
| Resistance | 49,670–49,000 |
Power of Algorithms in Options Trading, Try Spider Now: Register Now
If you’d like to know how we analyze the market and provide accurate levels every day. then click on the Free Demo button below and change your trading life for good. 5X returns are possible in options trading If you have Spider Software in your trading system.
Disclaimer: The information provided in this Blog is for educational purposes only and should not be construed as financial advice. Trading in the stock market involves a significant level of risk and can result in both profits and losses. Spider Software & Team does not guarantee any specific outcome or profit from the use of the information provided in this Blog. It is the sole responsibility of the viewer to evaluate their own financial situation and to make their own decisions regarding any investments or trading strategies based on their individual financial goals, risk tolerance, and investment objectives. Spider Software & Team shall not be liable for any loss or damage, including without limitation any indirect, special, incidental or consequential loss or damage, arising from or in connection with the use of this blog or any information contained herein.
