In today’s stock market, Nifty slips below 21,500, witnessing a 314-point fall, as Sensex drops. Pharma sector sees gains, while banks decline.
Stock Market Nifty Chart Prediction.
Indian indices closed lower in a volatile session, with Nifty below 21,500. Sensex fell 313.90 points (0.44%) to 71,186.86, and Nifty dropped 109.70 points (0.51%) to 21,462.30. Top Nifty losers: LTIMindtree, HDFC Bank, NTPC, Titan, and Asian Paints; gainers: Sun Pharma, Cipla, Tech Mahindra, Tata Motors, and Axis Bank. Sector-wise, bank, FMCG, IT, metal, and power declined 0.3-1%, while auto, capital goods, healthcare, oil & gas, and realty rose 0.3-0.7%. BSE midcap and smallcap indices ended flat.
Stock Prediction for 19th Jan 2024
| STOCK | Good Above | Weak Below |
| BHARTIARTL | 1090 | 1080 |
| BIOCON | 281 | 277 |
| BSOFT | 784 | 777 |
| KOTAKBANK | 1785 | 1764 |
Prediction For Friday NIFTY can go up if it goes above 21500 or down after the level of 21450 but all depends upon the Global cues.
Nifty began the day lower and had a turbulent trading session, showing big swings in both directions. It ended the day in negative territory, down around 110 points. Looking ahead, the hurdles for upward movement could be in the range of 21,500–21,660, with the crucial support zone identified between 21,450 and 21,400.
| Highest Call Writing at | 21500 (2.0 Crores) |
| Highest Put Writing at | 21450 (3.1 Crores) |
Nifty Support and Resistance
| Support | 21,450, 21400 |
| Resistance | 21500, 21,660 |
Bank Nifty Daily Chart Prediction.
Prediction For Friday Bank NIFTY can go up if it goes above 46500 or down after the level of 46000 but it all depends upon the Global cues.
Bank Nifty hit a key level at 45,768, which aligns with the 20-week moving average, forming a crucial support zone of 45,500–45,300. If this zone holds, a continued recovery is expected. On the upside, potential resistance is around 46,000–46,200.
| Highest Call Writing at | 46,000 (17.5 Lakhs) |
| Highest Put Writing at | 45,500 (14.4 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,500, 45,300 |
| Resistance | 46,000, 46,200 |
Also, check our Article on uses of Greek Analysis in Options Trading
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