In the stock market today, Nifty at 24,750, Sensex drops 495 points, auto stocks slump, IT sector performs well.
Stock Market Nifty Chart Prediction.
On October 17, the Sensex dropped 494.75 points, ending at 81,006.61, while the Nifty fell 221.50 points to 24,749.80. Out of the total shares, 1,199 gained, 2,580 declined, and 101 remained unchanged.
Top Nifty gainers: Bajaj Auto, Shriram Finance, Hero MotoCorp, Nestle and M&M
Top Nifty Losers: Tech Mahindra, Infosys, L&T, Power Grid Corp and SBI.
Among sectors, only the Information Technology index gained up 1%, while all other sectoral indices ended lower, with auto, media, and realty falling 2-3%.
The BSE midcap and smallcap indices shed more than 1 percent each.
Stock Prediction for 18th Oct 2024.
| STOCK | Good Above | Weak Below |
| INFY | 1980 | 1958 |
| LT | 3580 | 3540 |
| POWERGRID | 333 | 328 |
| SBIN | 812 | 805 |
Prediction for Friday NIFTY can go up if it goes above 24,800 or down after the level of 25,000, but it all depends upon the Global cues.
The Index finally broke out of its range of 24,920-25,200. After a quiet opening, auto stocks led the correction, pulling the Index lower. In the second half of the session, more selling pressure pushed the Index further down, ending at 24,749.85 with a loss of 221.45 points. Resistance is now seen in the 25,000 to 25,200 range, while support has shifted higher to the 24,800 to 24,600 levels.
| Highest Call Writing at | 25,000 (1.9 crore) |
| Highest Put Writing at | 24,800 (96.1 Lakh) |
Nifty Support and Resistance
| Support | 24,800 to 24,600 |
| Resistance | 25,000–25,200 |
Bank Nifty Daily Chart Prediction.
Prediction For Friday, Bank NIFTY can go up if it goes above 52,200 or down after the level of 51,000, but it all depends upon the Global cues.
The Bank Nifty has shown relative strength, staying above key hourly moving averages and trending upward. Although it closed in the negative today, the overall trend remains bullish. The support level is between 51,000–51,500 range, while resistance is seen between 52,200 and 53,000.
| Highest Call Writing at | 52,200 (28.8 Lakhs) |
| Highest Put Writing at | 51,000 (11.6 Lakhs) |
Bank Nifty Support and Resistance
| Support | 51,000–51,500 |
| Resistance | 52,200 and 53,000 |
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