Stock Market Prediction for Nifty & Bank Nifty 18th Dec 2023.

In Stock Market Today, Bulls drive Sensex up by 969 points, Nifty surpasses 21,400; Bank Nifty hits 48,000.

Stock Market Nifty Chart Prediction.

The stock market saw record highs for the second consecutive day, with Sensex and Nifty experiencing widespread buying and following a global rally triggered by the Fed. Nifty Metal and IT sectors were the top gainers, each rising by 1%.
Analyst VK Vijaykumar from Geojit Financial suggests that the market is likely to consolidate after a strong start this month, driven by positive news and buy-on-dips strategy. The sharp dip in the US bond yield is attracting significant capital flows to emerging markets like India. While large-cap financials and IT sectors remain favored, retail enthusiasm is keeping the broader market resilient, but caution is advised due to potential overvaluations.

Stock Prediction for 18th Dec 2023

1) COAL INDIA: Good Above 352, Weak Below: 346
2) SBICARD: Good Above 778, Weak Below 770
3) SRF: Good Above 2460, Weak Below 2426
4) VOLTAS: Good Above 863, Weak Below 855

Prediction For Monday NIFTY can go up if it goes above 21550 or down after the level of 21300 but all depends upon the Global cues.

Nifty continued its upward momentum, closing near the day’s high with a strong surge in the final hour, almost hitting 21,500 and ending at 21,449.60, a gain of 1.26%. Notably, the IT sector excelled, while metal & energy sectors recorded solid gains. Small-cap stocks also joined the positive movement, securing over half a percent increase. A potential pause is expected after the recent climb, with support likely around the 21,300-21,200 range. If the market opens higher and breaks the resistance at 21,500-21,550, there’s an anticipation of reaching a new milestone of 22,000. Banking and IT majors remain strong contributors.

Nifty Support and Resistance

Bank Nifty Daily Chart Prediction

Prediction For Monday Bank NIFTY can go up if it goes above 48500 or down after the level of 47500 but it all depends upon the Global cues.

Bank Nifty bulls are keeping up their impressive run, driving the index past the 48,000 mark. The overall market mood is positive, with a strong support base at 47,500. If it breaks this then might fall downward. Although, there’s a speculation that the index is expected to continue its upward trajectory, with a potential target of 48500-49000, signaling sustained confidence among market players.

Bank Nifty Support and Resistance

Also, check our Article on the Top Traded Strategies used in Bank Nifty.

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