In Stock Market Today, amid volatility, Nifty and Sensex concluded lower, while power stocks experienced a rally.
Stock Market Nifty Chart Prediction.
At the closing bell, Nifty closed at 20,901.20, down 36.50 points or 0.17 percent, while the Sensex stood at 69,521.69, down 132.04 points or 0.19 percent. Among the Nifty’s top losers were Bharti Airtel, HUL, ONGC, Apollo Hospitals, and Tata Steel. Conversely, top gainers included Power Grid Corporation, Adani Ports, UltraTech Cement, Cipla, and Grasim Industries.
The sectoral front exhibited a mixed trend, with auto and healthcare each up 0.5 percent, the oil & gas index up 1 percent, and the power index rising nearly 3 percent. Meanwhile, FMCG and Metal indices were down 0.5 percent each.
The BSE midcap index saw a rise of 0.7 percent, and the Smallcap index was up 0.3 percent.
Prediction For Friday NIFTY can go up if it goes above 21000 or down after the level of 20900 but all depends upon the Global cues.
During the session, the Nifty moved sideways, sticking to the range of 20,850 to 20,950. People are a bit cautious as the RBI policy meeting is nearing. In the short term, things seem neither positive nor negative, as long as the Nifty stays below 21,000, which is an important level for traders. If it decisively goes above 21,000, it might go back to an upward trend. But for now, we’re expecting some weakness. On the downside, there’s support at 20,900 and 20,850.
| Highest Call Writing at | 21000 (1.9 Crores) |
| Highest Put Writing at | 20900 (3.5 Crores) |
Nifty Support and Resistance
| Support | 20900, 20850 |
| Resistance | 21000, 20950 |
Bank Nifty Daily Chart Prediction
Prediction For Friday Bank NIFTY can go up if it goes above 47000 or down after the level of 46800 but it all depends upon the Global cues.
Before the RBI policy announcement, the Bank Nifty index showed a sideways movement. The index has support at 46,800-46700, and as long as it stays above this range, the strategy is to buy on dips. There’s a near-term obstacle at 47,000, and a clear breakthrough at this level is expected to push the index higher towards the 47,500 level.
| Highest Call Writing at | 47000 (78.0 Lakhs) |
| Highest Put Writing at | 46800 (1.1 Crore) |
Bank Nifty Support and Resistance
| Support | 46800, 46700 |
| Resistance | 47000, 47500 |
Also, check our Article on what factors will help the Indian Stock Market reach New Highs.
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.
