In Stock Market, Nifty dipped below 21,750, and Sensex plunges by -724 points today, with FMCG and Banking Sectors leading the decline.
Stock Market Nifty Chart Prediction.
Indian benchmark Indices closed Lower on February 9 as Nifty fell below 21,750 after RBI decides to maintain the Policy Rate.
Sensex dropped -723.57 points to 71,428.43, while Nifty slipped -212.50 points to 21,718.
Major Losers were Britannia Industries, ITC, Kotak Mahindra Bank, Axis Bank, and Nestle India.
while Gainers included State Bank of India, BPCL, Power Grid Corporation, TCS, and HCL Technologies.
Sectors like Auto, Bank, Realty, Capital Goods, and FMCG saw Declines.
Oil & Gas, Power, Information Technology, and PSU Bank sectors witnessed Gains.
BSE Midcap Index ended flat, while Smallcap Index fell by -0.4 percent.
Stock Prediction for 09th February 2024.
STOCK | Good Above | Weak Below |
ACC | 2525 | 2500 |
INDUSTOWER | 229 | 225 |
LT | 3364 | 3335 |
SBIN | 703 | 696 |
Prediction For Friday, NIFTY can go up if it goes above 22000 or down after the level of 21700 but all depends upon the Global cues.
Starting on a positive trajectory, Nifty gradually reversed course, ending the day with a decline of approximately 212 points. Analysis of the daily charts reveals a significant drop in Nifty’s value from the resistance zone of 22000 – 22120, which may continue to act as resistance in the upcoming session. Conversely, on the downside, Nifty is expected to retreat towards the 21700 – 21500 zone.
Highest Call Writing at | 22000 (1.3 Crores) |
Highest Put Writing at | 21700 (1.8 Crores) |
Nifty Support and Resistance
Support | 21,700, 21,500 |
Resistance | 22,000, 22,120 |
Bank Nifty Daily Chart Prediction.
Prediction For Friday, Bank NIFTY can go up if it goes above 46000 or down after the level of 45000 but it all depends upon the Global cues.
Bank Nifty experienced a significant drop and ended substantially lower. The consolidation observed over the past three trading sessions has been broken on the downside. It is anticipated that Bank Nifty will move towards the support level of 45000 – 44420. Conversely, on the upside, the range of 46000 – 47000 is expected to serve as an immediate resistance..
Highest Call Writing at | 46,000 (41.9 Lakhs) |
Highest Put Writing at | 45,000 (16.0 Lakhs) |
Bank Nifty Support and Resistance
Support | 45,000, 44,420 |
Resistance | 46,000, 47,000 |
Also, check our Article on TWEEZER TOP & BOTTOM CANDLESTICK PATTERN.
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