In the Stock Market Today, Nifty 50 may consolidate around 24,000, with IT stocks rebounding and mid, small-caps declining.
Stock Market Nifty Chart Prediction.
On August 14, The Sensex rose by 149.85 points to reach 79,105.88, while the Nifty increased by 4.80 points to stand at 24,143.80. Out of the shares traded, 1,247 went up, 2,141 went down, and 91 remained unchanged.
Top Nifty gainers: TCS, HCL Technologies, Infosys, Tech Mahindra and BPCL
Top Nifty Losers: Divis Labs, Hero MotoCorp, Coal India, ONGC and UltraTech Cement.
Among the sectors, only IT saw gains, going up by 1.5%. All other sectors, including capital goods, healthcare, oil & gas, metals, real estate, pharma, and media, fell by 0.5-1%.
BSE Midcap and Smallcap indices lost 1% each.
Stock Prediction for 16th August 2024.
| STOCK | Good Above | Weak Below |
| GLENMARK | 1502 | 1482 |
| HDFCAMC | 4185 | 4150 |
| ITC | 495 | 489 |
| TCS | 4325 | 4280 |
Prediction For Wednesday, NIFTY can go up if it goes above 24,200 or down after the level of 23,900 but it all depends upon the Global cues.
Nifty remained sideways ahead of the US CPI inflation data release and the public holiday on Thursday. The overall trend is likely to remain weak, as the index continues to trade below the initial resistance level of 24,250. This weakness might push the index towards 23,900-23,700. On the higher end, resistance is expected at 24,250-24,500.
| Highest Call Writing at | 24,200 (1.7 Crore) |
| Highest Put Writing at | 23,900 (1.1 Crore) |
Nifty Support and Resistance
| Support | 23,900-23,600 |
| Resistance | 24,200-24,500 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday, Bank NIFTY can go up if it goes above 49,800 or down after the level of 49,800 but it all depends upon the Global cues.
Bank Nifty index opened slightly lower and stayed under pressure for the entire day, closing in the red at 49,727. This resulted in the formation of a red candle on the daily chart, signifying ongoing weakness. The resistance level is positioned between 49,800 and 50,000, while the support level lies between 49,700 and 49,500.
| Highest Call Writing at | 49,800 (48.7 Lakhs) |
| Highest Put Writing at | 49,700 (48.6 Lakhs) |
Bank Nifty Support and Resistance
| Support | 49,700-49,500 |
| Resistance | 49,800– 50,000 |
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