In today’s stock market, extend losses ahead of Fed decision; Nifty slips to 24,200, Sensex drops by 445 points.
Stock Market Nifty Chart Prediction
On December 18, Sensex was down 502.25 points at 80,182.20, and the Nifty was down 137.15 points at 24,198.85. About 1,379 shares advanced, 2,456 shares declined, and 92 shares remained unchanged.
Top Nifty gainers: Trent, Dr Reddy’s Labs, Cipla, Wipro and Bajaj Auto
Top Nifty Losers: Tata Motors, Bharat Electronics, Power Grid Corp, JSW Steel and NTPC.
On the sectoral front, all indices ended in the red except pharma, which gained slightly. auto, energy, PSU Bank, metal, media, and realty sectors declined between 0.5 and 2 points.
BSE Midcap and smallcap indices shed 0.5 percent each.
Stock Prediction for 19th Dec 2024
| STOCK | Good Above | Weak Below |
| IGL | 405 | 400 |
| LALPATHLAB | 3052 | 3025 |
| TECHM | 1785 | 1765 |
| TRENT | 7140 | 7070 |
Prediction for Thursday NIFTY can go up if it goes above 24,600 or down after the level of 24,000, but it all depends upon the Global cues.
Nifty50 has formed another bearish candle, but the hourly chart shows the index in an oversold condition, indicating a potential bounce. The Indian market is experiencing a breakdown in the Santa Claus rally, impacted more than developed markets by dollar appreciation and premium valuations surpassing slowing earnings growth. Resistance is expected between 24,600 and 25,000, while support is seen between 24,000 and 23,800.
| Highest Call Writing at | 24,600 (1.6 crore) |
| Highest Put Writing at | 24,000 (74.2 lakh) |
Nifty Support and Resistance
| Support | 24,000 to 23,800 |
| Resistance | 24,600 and 25,000 |
Bank Nifty Daily Chart Prediction
Prediction For Thursday, Bank NIFTY can go up if it goes above 53,000 or down after the level of 52,000, but it all depends upon the Global cues.
Investors pulled back from stocks, particularly in the banking sector, ahead of the US rate decision, with attention centered on the Fed Chairman’s commentary regarding inflation and the growth outlook amid a deteriorating global economic situation. Resistance is anticipated between 53,000 and 53,500, while support is projected between 52,000 and 51,600.
| Highest Call Writing at | 53,000 (44.4 Lakh) |
| Highest Put Writing at | 52,000 (18.5 Lakh) |
Bank Nifty Support and Resistance
| Support | 53,000 and 53,500 |
| Resistance | 52,000 and 51,600 |
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