In Stock Market Today, during market volatility, Sensex and Nifty hold steady, with metal and FMCG sectors gaining, while oil & gas, auto, and banking sectors decline.
Stock Market Nifty Chart Prediction.
Indian benchmark indices concluded the volatile session on March 7 with little change after initially reaching record highs.
By the end, Nifty climbed +19.50 points or +0.09 percent to 22,493.50 while the Sensex increased by +33.40 points or +0.05 percent to 74,119.39.
Tata Steel, Bajaj Auto, Tata Consumer, Tata Motors, and JSW Steel leading the Nifty’s gains.
On the other hand, M&M, BPCL, Reliance Industries, Axis Bank, and ICICI Bank were among the top losers.
Sectors like banking, oil & gas, and auto ended in negative territory,
while metal, capital goods, media, and FMCG sectors saw gains ranging from +1 to +2.5 percent.
The BSE midcap index rose by +0.3 percent, and the smallcap index climbed by +0.7 percent.
Stock Prediction for 07th March 2024.
| STOCK | Good Above | Weak Below |
| CIPLA | 1502 | 1480 |
| INDUSTOWER | 256 | 252 |
| LT | 3691 | 3660 |
| WIPRO | 518 | 512 |
Prediction For Monday, NIFTY can go up if it goes above 22,500 or down after the level of 22,450 but all depends upon the Global cues.
Nifty remained below the key 22,500 level, with call writers at the 22,500 strikes noticeably bolstering their positions. Support is anticipated to remain firm at 22,450. A breakthrough above 22,500 could spark buying enthusiasm, potentially propelling the index towards 22,550 in the near future.
| Highest Call Writing at | 22,500 (2.9 Crores) |
| Highest Put Writing at | 22,450 (1.9 Crores) |
Nifty Support and Resistance
| Support | 22,450, 22,120 |
| Resistance | 22,500, 22,550 |
Bank Nifty Daily Chart Prediction.
Prediction For Thursday, Bank NIFTY can go up if it goes above 48,000 or down after the level of 47,500 but it all depends upon the Global cues.
Bank Nifty encountered resistance near the 48,000 mark while finding support around 47,750. Despite this, the weekly close suggests strong bullish momentum, with key support at 47,500 and resistance at 48,000. A decisive break above 48,000, supported by closing prices, might trigger a bullish rally towards levels of 48,500 and 48,800.
| Highest Call Writing at | 48,000 (31.2 Lakhs) |
| Highest Put Writing at | 47,500 (18.2 Lakhs) |
Bank Nifty Support and Resistance
| Support | 47,500, 46,920 |
| Resistance | 48,000, 48,500 |
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