In Stock Market Today, Nifty closed near 22,300, with the Sensex experiencing a decline of -630 points. Additionally, the smallcap index saw a -2% decrease.
Stock Market Nifty Chart Prediction.
On March 11, benchmark indices closed lower, with Nifty hovering around 22,300.
Tata Consumer Products, Power Grid Corporation, Tata Steel, Bajaj Auto, and SBI emerged as the Top Losers on the Nifty,
while Apollo Hospitals, Nestle India, Cipla, SBI Life Insurance, and Bajaj Finserv saw Gains.
Except for the pharmaceutical sector, all other sectoral indices, including auto, capital goods, oil & gas, banking, IT, realty, metal, and power, ended in negative territory, dropping by -0.5 to -1 percent each.
The BSE mid-cap index declined by -0.3 per cent, while the small-cap index experienced a -2 percent fall.
Stock Prediction for 12th March 2024.
| STOCK | Good Above | Weak Below |
| COLPAL | 2614 | 2590 |
| MUTHOOTFIN | 1406 | 1386 |
| TCS | 4130 | 4096 |
| ZYDUSLIFE | 1008 | 992 |
Prediction For Tuesday, NIFTY can go up if it goes above 22,500 or down after the level of 22,320 but all depends upon the Global cues.
Nifty has been moving within an upward channel, showing higher highs and higher lows. Despite an ongoing corrective phase, the overall trend remains bullish. In the near term, Nifty may face some weakness, potentially dropping to the range of 22,320-22,125. On the upside, initial resistance is observed at 22,500 based on closing levels.
| Highest Call Writing at | 22,500 (84.2 Lakhs) |
| Highest Put Writing at | 22,320 (35.6 Lakhs) |
Nifty Support and Resistance
| Support | 22,320, 22,125 |
| Resistance | 22,500, 22,600 |
Bank Nifty Daily Chart Prediction.
Prediction For Tuesday, Bank NIFTY can go up if it goes above 48,000 or down after the level of 47,000 but it all depends upon the Global cues.
Facing strong resistance from sellers at higher levels, the Bank Nifty index experienced a downward trend. Immediate support lies between 47,000 and 46,500 levels, and breaking below this range could lead to more selling. To resume its upward movement towards record highs, the index must convincingly surpass the 48,000 mark.
| Highest Call Writing at | 48,000 (49.3 Lakhs) |
| Highest Put Writing at | 47,000 (25.9 Lakhs) |
Bank Nifty Support and Resistance
| Support | 47,000, 46,500 |
| Resistance | 48,000, 48,500 |
Also, know How to Invest in USA Stocks from India.
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