Home » Stock Market Prediction for Nifty & Bank Nifty 16 Nov 2023

Stock Market Prediction for Nifty & Bank Nifty 16 Nov 2023


Stock market is bullish, with the Nifty hovering around 19,700, Sensex gaining 800 points, and all sectors showing positive performance.

Stock Market Nifty Chart Prediction.

On November 15, Indian benchmark indices closed higher, with Nifty surpassing 19,650, driven by widespread buying across sectors. Top gainers on the Nifty included Eicher Motors, Tech Mahindra, Hindalco Industries, Tata Motors, and Infosys, while Bajaj Finance, Power Grid Corporation, IndusInd Bank, Bajaj Finserv, and Apollo Hospitals were among the losers. All sectoral indices concluded in positive territory, with capital goods, auto, metal, information technology, oil & gas, and realty witnessing gains of 1-3 percent. Additionally, BSE Midcap and Smallcap indices both rose by 1 percent each.

Prediction For tomorrow NIFTY can go up if it goes above 19700 or go down after the level of 19600 but all depend upon the Global cues.

There are good chances of market going up as today market opened gap up and after that was in range to close in that range. If it goes beyond any level given above it will give a one side move on any side up or down. If Nifty gives flat opening, it may move to the level of 19700 or 19500 But all these aspects depend upon the Global cues.

Highest Call Writing at19600 (1.0 crores)
Highest Put Writing at19400 (82.6 lakhs)

Nifty Support and Resistance

Support 19600,19500
Resistance19700,19750

Bank Nifty Daily Chart Prediction

Prediction For tomorrow Bank NIFTY can go up if it goes above 44300 or go down after the level of 44100 but all depend upon the Global cues.

Today, BANK NIFTY opened gap up in morning but after that it was in range and also closed in range. Today bank nifty has closed in green and closed above its critical level of 43100 which has made bank nifty strong again For tomorrow. you can go with the strategy of buy on dip.

Highest Call Writing at43800 (49.9 Lakhs)
Highest Put Writing at43800 (35.7 Lakhs)

Bank Nifty Support and Resistance

Support44150,44000
Resistance44300,44500

Also, check our Article on Spinning Top Candlestick Pattern

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.

Disclaimer: The information provided in this Blog is for educational purposes only and should not be construed as financial advice. Trading in the stock market involves a significant level of risk and can result in both profits and losses. Spider Software & Team does not guarantee any specific outcome or profit from the use of the information provided in this Blog. It is the sole responsibility of the viewer to evaluate their own financial situation and to make their own decisions regarding any investments or trading strategies based on their individual financial goals, risk tolerance, and investment objectives. Spider Software & Team shall not be liable for any loss or damage, including without limitation any indirect, special, incidental or consequential loss or damage, arising from or in connection with the use of this blog or any information contained herein.

Leave a Reply

Your email address will not be published. Required fields are marked *