Home » Stock Market Prediction for Nifty & Bank Nifty  10 Oct 2023

Stock Market Prediction for Nifty & Bank Nifty  10 Oct 2023

In Stock market today With the Nifty at 19,500 and a 483-point decline in the Sensex, all sectors are seeing losses.

Stock Market Nifty Chart Prediction.

The Nifty experienced a volatile trading day, closing approximately 140 points lower, indicating a correction in its recent upward momentum from 19,333 to 19,676, with potential support around 19,500 – 19,460, marked by the October 5th gap and the 61.82% Fibonacci retracement level, suggesting a buying opportunity on a gap down or dip.

In contrast, the Bank Nifty opened with a gap down and reached a new low of 43,796, signifying weakness, and it is currently hovering around the previous swing lows of 43,700 – 43,600, which could be tested in the upcoming trading sessions. Despite signs of oversold conditions and divergence on daily charts, price confirmation is still pending. Key levels to watch for the Bank Nifty are 43,700 – 43,600 as crucial support and 44,200 – 44,300 as an immediate resistance zone.

Prediction For Tuesday NIFTY can go up if it goes above 19600 or go down after the level of 19475 but all depend upon the Global cues.

There are good chances of market to remain down as today market opened gapdown and then it was in range and closed near  level of 19500. If it goes beyond any level given above it will give a one side move on any side up or down. Nifty gives flat opening, it may move to the level of 19600 or 19400 But all these aspects depend upon the Global cues.

Highest Call Writing at19800
Highest Put Writing at19,500

Nifty Support and Resistance

Support 19450,19400
Resistance19600,19650

Bank Nifty Daily Chart Prediction

Prediction For Tuesday Bank NIFTY can go up if it goes above 44100 or go down after the level of 43800 but all depend upon the Global cues.

Today, BANK NIFTY opened gap down in morning but after that there was slight down and tock support at 43800. And then bank nifty went up. Today bank nifty has closed in red and closed near its critical level of 44850 which has made bank nifty weak again For Tuesday. you can go with the strategy of sell on rise.

Highest Call Writing at44000
Highest Put Writing at44000

Bank Nifty Support and Resistance

Support43800,43600
Resistance44000,44100

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