In Stock market today market ended marginally lower, snapping a three-day gain, with the realty sector being the hardest hit.
Stock Market Nifty Chart Prediction.
The rangebound session comes to an end at 19,406.70 with a minuscule loss of 5.05 points. Among the sectors, Pharma was the top performer by ending the day with gains of 1.32% while profit booking pressure dragged the Realty segment lower. Stock-specific action was witnessed in the IT and Metal space. Mid and Smallcaps extended their journey towards the north and outperformed the Frontline Index.
On the daily chart, the Index has made an Inside bar candlestick pattern which generally represents a period of consolidation or indecision in the markets. A convincing close above 19,420 will open the doors for 19,560 while a downside is protected at 19,350. BankNifty has given a compelling close above its critical hurdle of 43,600 as well as its 21DMA which indicates a continuation of the current up move and is likely to soar higher towards 44,000 while a level of 43,300 will act as a strong support
Prediction For Wednesday NIFTY can go up if it goes above 19500 or go down after the level of 19300 but all depend upon the Global cues.
There are good chances of market going up as today market opened gap down and after that was in range and closed above level of 19400. If it goes beyond any level given above it will give a one side move on any side up or down. If Nifty gives flat opening, it may move to the level of 19500 or 19300 But all these aspects depend upon the Global cues.
| Highest Call Writing at | 19200 (1.0 crores) |
| Highest Put Writing at | 19100 (82.6 lakhs) |
Nifty Support and Resistance
| Support | 19300,19250 |
| Resistance | 19500,19550 |
Bank Nifty Daily Chart Prediction
Prediction For Wednesday Bank NIFTY can go up if it goes above 43800 or go down after the level of 43300 but all depend upon the Global cues.
Today, BANK NIFTY opened flat in morning but after that it came down tock support near 43300 and then closed at days high. Today bank nifty has closed in green and closed above its critical level of 43700 which has made bank nifty strong again For Wednesday. you can go with the strategy of buy on dip.
| Highest Call Writing at | 43200 (49.9 Lakhs) |
| Highest Put Writing at | 42800 (35.7 Lakhs) |
Bank Nifty Support and Resistance
| Support | 43400,43200 |
| Resistance | 43800,43850 |
Also, check our Article on Spinning Top Candlestick Pattern
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