In Stock Market Today, Nifty and Sensex show slight gains amid volatility, with a notable performance from the auto sector.
Stock Market Nifty Chart Prediction.
The Indian Market concluded positively for the third straight session on January 10. The Sensex closed higher by 271.50 points, or 0.38%, at 71,657.71, while the Nifty gained 73.90 points, or 0.34%, reaching 21,618.70. Among the top Nifty gainers were Cipla, Reliance Industries, Adani Enterprises, HCL Technologies, and Adani Ports. On the flip side, ONGC, Divis Labs, BPCL, NTPC, and Power Grid Corporation were the top losers. In sectoral performance, Healthcare, Information Technology, and Metal showed gains of 0.4% each, while the Oil and Gas index witnessed a 0.5% decline. BSE Midcap and Smallcap indices closed marginally higher.
Stock Prediction for 12th Jan 2024
| STOCK | Good Above | Weak Below |
| AXISBANK | 1130 | 1120 |
| MUTHOOTFIN | 1495 | 1482 |
| POWERGRID | 242 | 240 |
| TCS | 3752 | 3721 |
Prediction For Friday NIFTY can go up if it goes above 21700 or down after the level of 21600 but all depends upon the Global cues.
Within the range of 21700-21750, Nifty experienced selling pressure but managed to stabilize by closing above 21650, ultimately closing the session positively. The immediate support for Nifty has moved to 21600, and 21700 is identified as a resistance level on the technical chart. The broader support for Nifty in a positional context is situated at 21500.
| Highest Call Writing at | 21700 (2.9 Crores) |
| Highest Put Writing at | 21600 ( 2.3 Crores) |
Nifty Support and Resistance
| Support | 21600, 21500 |
| Resistance | 21700, 21750 |
Bank Nifty Daily Chart Prediction.
Prediction For Friday Bank NIFTY can go up if it goes above 48000 or down after the level of 47000 but it all depends upon the Global cues.
Bank Nifty had a volatile session as bulls and bears struggled. The key obstacle is at 48000 with significant call writing, and surpassing it could trigger a short-covering rally. On the downside, strong support is at 47000; breaching it may increase selling pressure.
| Highest Call Writing at | 48000 (18.3 Lakhs) |
| Highest Put Writing at | 47000 (17 Lakhs) |
Bank Nifty Support and Resistance
| Support | 47,000 |
| Resistance | 48,000 |
Also, check our Article on the Understanding of Rising and Falling Wedge Pattern.
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