Home » Stock Market Prediction for Nifty & Bank Nifty 09th Oct 2024.

Stock Market Prediction for Nifty & Bank Nifty 09th Oct 2024.

In the stock market today, Nifty above 25,000, while the Sensex up 585 points; PSU sector emerges as the top performer.

Stock Market Nifty Chart Prediction.

Zoomed Nifty Chart in Intraday Time Frame.

On October 08, The Sensex rose by 584.81 points to reach 81,634.81, while the Nifty increased by 217.40 points to 25,013.20. About 2,884 shares advanced, 895 shares declined, and 94 shares were unchanged.

Top Nifty gainers: Trent, Adani Enterprises, Adani Ports, Bharat Electronics, M&M
Top Nifty Losers:   Tata Steel, SBI Life Insurance, Titan Company, JSW Steel and Bajaj Finserv.

All sectoral indices, except for metal, finished in positive territory, with auto, banking, healthcare, real estate, capital goods, power, telecom, and media rising by 1-2 percent.

The BSE midcap index added nearly 2 percent and smallcap index rose 2.5 percent.

Stock Prediction for 09th Oct 2024
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Prediction For Wednesday, NIFTY can go up if it goes above 25,100 or down after the level of 24,600, but it all depends upon the Global cues.

Mid and Smallcaps rose over 2%, outperforming the Frontline Index. The Nifty50 ended its streak of bearish candles, forming a strong bullish candle called Bullish Harami, along with a hidden bullish divergence in the RSI, suggesting a potential reversal of the bearish trend. A strong move above 25,140 will confirm a trend reversal, while 24,950 will act as immediate support. Resistance is expected between 25,100 and 25,300, with support on the downside around 24,600 to 24,400.

Highest Call Writing at
25,100 (98.1 Lakh)
Highest Put Writing at
24,600 (75.4 Lakh)

Nifty Support and Resistance

Support 24,600 to 24,400.
Resistance
25,100 and 25,300

Bank Nifty Daily Chart Prediction.

The picture is of the Bank Nifty Stock Market chart in the daily time frame, through which it will be used to predict the market on Oct 09, 2024

The image displays Intraday version of the Bank Nifty Stock Market chart, used for predicting on Oct 09, 2024

Prediction For Wednesday, Bank NIFTY can go up if it goes above 51,700 or down after the level of 50,500, but it all depends upon the Global cues.

Bank Nifty is presently in a bulliish trend. On the upside, resistance is seen in the 51,500-51,700 range, while support on the downside is between 50,500 and 50,300.

Highest Call Writing at51,500 (34.0 Lakhs)
Highest Put Writing at 50,500 (31.6 Lakhs)

Bank Nifty Support and Resistance

Support 50,500 50,300
Resistance
51,500-51,700

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