In the Stock Market Today, Sensex down by 380 points, Nifty holds above 22,300; PowerGrid, IndusInd, Tata Motors lead losses.
Stock Market Nifty Chart Prediction.
On April 07, Sensex witnessed a decline of 383.69 points, settling at 73,511.85. Similarly, the Nifty experienced a drop of 143.95 points, closing at 22,298.75. Among the listed stocks, 1096 saw gains, while -2727 recorded losses, with 109 remaining unchanged.
Top Nifty gainers: Kotak Mahindra Bank, Tata Consultancy Services, Hindustan Uneliver
Top Nifty Losers: PowerGrid, Indusind Bank, and Tata Motors
Leading the sector performance was Nifty Realty, which saw a 4% drop, followed by Nifty Metal and Healthcare, each down by 2.5%. Meanwhile, Nifty Auto, PSU Banks, and the Oil & Gas sectors all witnessed declines exceeding 2%.
Stock Prediction for 08th May 2024.
| STOCK | Good Above | Weak Below |
| BALKRISIND | 2450 | 2425 |
| ICICIGI | 1702 | 1681 |
| ITC | 446 | 440 |
| TCS | 3970 | 3936 |
Prediction For Wednesday, NIFTY can go up if it goes above 22,500 or down after the level of 22,200 but all depends upon the Global cues.
Nifty witnessed the creation of a bearish engulfing candle last week, indicating potential weakness in the market. Downside movement may find substantial support around the 22,200-22,000 levels, while encountering notable resistance near 22,500-22,800. Overall, Nifty is anticipated to consolidate within the range of 22,000-22,800 in the short term.
| Highest Call Writing at | 22,500 (92.9 Lakhs) |
| Highest Put Writing at | 22,200 (69.0 Lakhs) |
Nifty Support and Resistance
| Support | 22,200, 22,000 |
| Resistance | 22,500, 22,800 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday, 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.
Bank Nifty began positively but ended negatively at 48,285 due to strong selling pressure, breaking the previous week’s low of 48,342.7. If it stays below 48,340, weakness might continue towards 48,000-47,700. In the short term, 48,000-47,700 are expected to provide support, while 49,000-50,000 are seen as resistance levels.
| Highest Call Writing at | 49,000 (49.5 Lakhs) |
| Highest Put Writing at | 48,000 (27.5 Lakhs) |
Bank Nifty Support and Resistance
| Support | 48,000, 47,700 |
| Resistance | 49,000, 50,000 |
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