In Stock market today Nifty index dips below 19,800 while the Sensex experiences a decline, but mid and small-cap stocks show gains.
Stock Market Nifty Chart Prediction.
The Nifty exhibited a day of flat opening and consolidation, with a marginal decline of approximately 17 points, following a substantial 350-point rally in previous sessions, signifying a healthy consolidation phase, and potential buying opportunities if it dips towards the 19750-19730 zone; additionally, the gap area at 19718-19757 is expected to provide short-term support, while the upside potential extends to the range of 19884-20030. In the case of Bank Nifty, it too consolidated, forming an Inside bar pattern, and with contracting Bollinger bands and a negative crossover in the hourly momentum indicator, the consolidation is likely to continue for the next few sessions, with buying opportunities on dips to 44400-44300; once the consolidation matures, positive momentum is anticipated to resume, targeting levels around 45050-45350, aligning with key Fibonacci retracement levels.
Prediction For Friday NIFTY can go up if it goes above 19850 or go down after the level of 19750 but all depend upon the Global cues.
There are good chances of market to remain up as today market opened flat and then it was in range and closed near level of 19800. 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 19850 or 19750 But all these aspects depend upon the Global cues.
| Highest Call Writing at | 19800 |
| Highest Put Writing at | 19,800 |
Nifty Support and Resistance
| Support | 19750,19700 |
| Resistance | 19850,19900 |
Bank Nifty Daily Chart Prediction
Prediction For Friday Bank NIFTY can go up if it goes above 44700 or go down after the level of 44400 but all depend upon the Global cues.
Today, BANK NIFTY opened gap up in morning but after that there was in range after that tock support at 44550. Today bank nifty has closed in green and closed near its critical level of 44500 which has made bank nifty strong again For Friday. you can go with the strategy of buy on dip.
| Highest Call Writing at | 44700 |
| Highest Put Writing at | 44500 |
Bank Nifty Support and Resistance
| Support | 44400,44250 |
| Resistance | 44700,44800 |
An Opportunity to Learn Live Trading and Training on Monthly Expiry by Clicking Here
If you’d like to know how we analyze the market and provide accurate levels every day. then click on the Free Demo button below and change your trading life for good. 5X returns are possible in options trading If you have Spider Software in your trading system.
Also, Check out our article on Top of Cryptocurrencies to look for in 2023.
