In Stock Market Today, Nifty stands at 21,783, while Sensex gains 167 points. Leading gainers include SBI, Sun Pharma, ICICI Bank, and Axis Bank.
Stock Market Nifty Chart Prediction.
Following a record high in the Budget week, the Nifty50 index experienced volatile trading, moving within a narrow range due to cautious statements from the US Fed and RBI, dampening hopes for immediate rate cuts.
The Nifty declined by -71.3 points or -0.32 percent to close at 21,782.5, while the BSE Sensex dropped by -490.14 points or -0.67 percent to finish at 71,595.49.
HDFC Bank saw the largest decline in market value, trailed by ITC, Bharti Airtel, and Kotak Mahindra Bank.
Conversely, State Bank of India, Tata Consultancy Services, and Sun Pharmaceutical Industries saw the greatest increase in their market capitalization.
Stock Prediction for 12th February 2024.
| STOCK | Good Above | Weak Below |
| CONCOR | 950 | 937 |
| DRREDDY | 6162 | 6123 |
| MFSL | 1000 | 985 |
| RELIANCE | 2940 | 2900 |
Prediction For Monday, NIFTY can go up if it goes above 21960 or down after the level of 21600 but all depends upon the Global cues.
The trading session saw Nifty opening without much change and maintaining a sideways movement throughout. If it convincingly breaches the support level at 21,600, the trend might weaken, potentially leading to a correction towards 21,500. Conversely, surpassing the resistance at 21,960 could signal a recovery in the short term.
| Highest Call Writing at | 21960 |
| Highest Put Writing at | 21600 |
Nifty Support and Resistance
| Support | 21,600, 21,500 |
| Resistance | 21,960, 22,130 |
Bank Nifty Daily Chart Prediction.
Prediction For Monday, Bank NIFTY can go up if it goes above 46200 or down after the level of 45000 but it all depends upon the Global cues.
Bulls in Bank Nifty demonstrated resilience by defending the key support at 45000, solidifying it as a critical zone. The index is presently in a “buy on dip” phase, with bullish sentiment intact as long as the support holds. Looking forward, the next resistance is at 46200, and a clear breakthrough is expected to stimulate additional short-covering activity.
| Highest Call Writing at | 46,200 |
| Highest Put Writing at | 45,000 |
Bank Nifty Support and Resistance
| Support | 45,000, 44,420 |
| Resistance | 46,200, 46,900 |
Also, check our Article on How to Find Top Stocks for Your Portfolio.
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