In today’s stock market, Sensex drops 385 points, Nifty slips below 24,700; IT and metal weigh down, while realty and media sectors gain.
Stock Market Nifty Chart Prediction
On December 16, Sensex was down 384.55 points at 81,748.57, and the Nifty was down 100.05 points at 24,668.25. About 2,220 shares advanced, 1,748 shares declined, and 94 shares remained unchanged.
Top Nifty gainers: Dr Reddy’s Labs, IndusInd Bank, Bajaj Finance, Power Grid and HDFC Life
Top Nifty Losers: Titan Company, TCS, Hindalco Industries, Adani Ports and BPCL
Among sectors, the Realty index climbed 3%, the Media index rose 1.5%, and the PSU Bank index added 0.5%, while IT, Metal, and Oil & Gas sectors declined by 0.5-1%.
BSE Midcap and Smallcap indices rose 0.5% each.
Stock Prediction for 17th Dec 2024
| STOCK | Good Above | Weak Below |
| DRREDDY | 1272 | 1260 |
| HAVELLS | 1775 | 1758 |
| JUBLFOOD | 690 | 682 |
| INDIANB | 582 | 576 |
Prediction for Tuesday NIFTY can go up if it goes above 24,700 or down after the level of 24,500, but it all depends upon the Global cues.
Indian equities started the week on a subdued note, with corrections in select heavyweights pulling the Index lower. However, a partial recovery from the lower levels allowed the Index to close at 24,668.25, down by 100.05 points. If the Nifty breaks the resistance at 24,800, the next resistance is expected between 24,800 and 25,000, while support is seen in the range of 24,600 to 24,000.
| Highest Call Writing at | 24,800 (1.1 crore) |
| Highest Put Writing at | 24,600 (71.3 lakh) |
Nifty Support and Resistance
| Support | 24,600 to 24,000 |
| Resistance | 24,800 and 25,000 |
Bank Nifty Daily Chart Prediction
Prediction For Tuesday, Bank NIFTY can go up if it goes above 53,750 or down after the level of 53,000, but it all depends upon the Global cues.
Domestic equities followed the trend set by Asian and European indices, ending in the red as investors await the outcome of the US FOMC meeting later this week on the rate decision. While a rate cut is anticipated, investor confidence remains low due to the sluggish Chinese economy and concerns about Trump’s upcoming decision on import tariffs from key economies. Resistance is seen between 53,800 and 54,000, while support is seen between 53,200 and 53,000.
| Highest Call Writing at | 53,800 (28.5 Lakh) |
| Highest Put Writing at | 53,200 (17.9 Lakh) |
Bank Nifty Support and Resistance
| Support | 53,800 and 54,000 |
| Resistance | 53,750 and 54,000 |
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