Today’s stock market sees Sensex and Nifty holding steady amid volatility, with investors keeping a close eye on the RBI policy announcement.
Stock Market Nifty Chart Prediction.
On February 7, Indian benchmark indices closed flat in a highly volatile session, just ahead of the RBI policy outcome. The Sensex ended at 72,152.00, down by 0.05 percent, while the Nifty closed at 21,930.50, up by 0.01 percent. Among the top gainers on the Nifty were State Bank of India, Grasim Industries, JSW Steel, HDFC Life, and Axis Bank, while losers included Tech Mahindra, Power Grid Corporation, Infosys, Adani Ports, and TCS. In sectoral performance, PSU Bank, metal, power, pharma, and realty sectors witnessed gains of 0.5-3 percent, while the Information Technology index shed 1 percent. The BSE Midcap index rose by 1.3 percent, and the Smallcap index added 0.4 percent.
Stock Prediction for 08th February 2024
| STOCK | Good Above | Weak Below |
| AARTIIND | 670 | 663 |
| BALRAMCHIN | 405 | 400 |
| HAL | 2970 | 2940 |
| ICICIPRULI | 534 | 528 |
Prediction For Thursday NIFTY can go up if it goes above 22000 or down after the level of 21900 but all depends upon the Global cues.
Starting positively, Nifty remained steady throughout the day, concluding with a slight increase of around 11 points. Analyzing the daily charts, it’s evident that Nifty has maintained a narrow trading range over the past few weeks. Notably, the range of 22000 – 22300 presents a formidable resistance on the upside, while key support levels are identified at 21900 – 21700.
| Highest Call Writing at | 22000 (91.6 Lakhs) |
| Highest Put Writing at | 21900 (87.6 Lakhs) |
Nifty Support and Resistance
| Support | 21,900, 21,700 |
| Resistance | 22,000, 22,300 |
Bank Nifty Daily Chart Prediction.
Prediction For Thursdsay Bank NIFTY can go up if it goes above 46050 or down after the level of 45800 but it all depends upon the Global cues.
Following a three-day decline, Bank Nifty concluded in positive territory. The resistance level, persist towards the range of 46050 – 46310, in the upcoming trading sessions. Notably, crucial support levels are positioned at 45800 – 45700.
| Highest Call Writing at | 46,050 (75.9 Lakhs) |
| Highest Put Writing at | 45,800 (86.8 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,800, 45,700 |
| Resistance | 46,050, 46,310 |
Also, check our Article on TWEEZER TOP & BOTTOM CANDLESTICK PATTERN.
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