In today’s stock market, Sensex rises by 800 points, Nifty goes above 23,500; everyone is focused on the upcoming Union Budget.
Stock Market Nifty Chart Prediction
On January 31, Sensex was up 740.76 points at 77,500.57, and the Nifty was up 258.90 points at 23,508.40. About 2,635 shares advanced, 1,131 shares declined, and 120 shares remained unchanged.
Top Nifty gainers: Tata Consumer, Trent, Bharat Electronics, Nestle India, L&T
Top Nifty Losers: Bharti Airtel, ICICI Bank, Bajaj Finserv, Apollo Hospitals, JSW Steel.
All sectoral indices closed higher, with Consumer Durables, Oil & Gas, Power, PSU, Realty, and FMCG rising by 2% each, while the Capital Goods index gained nearly 4%.
BSE Midcap and Smallcap indices gained nearly 2 percent each.
Stock Prediction for 1st Feb 2025
| STOCK | Good Above | Weak Below |
| HAL | 3980 | 3938 |
| IRCTC | 827 | 818 |
| LT | 3580 | 3540 |
| MAXHEALTH | 1072 | 1062 |
Prediction for Saturday NIFTY can go up if it goes above 23,740 or down after the level of 23,400, but it all depends upon the Global cues.
The bulls took charge on the last day of the month, with the index rising to 23,508.40, up by 258.90 points. The breakout of the Falling Wedge Formation suggests a positive trend, but with the Union Budget announcement tomorrow, volatility is expected. The market’s support is at 23,400-23,000, while resistance lies between 23,740 and 23,860.
| Highest Call Writing at | 23,740 (77.4 Lakh) |
| Highest Put Writing at | 23,400 (68.6 Lakh) |
Nifty Support and Resistance
| Support | 23,400-23,000 |
| Resistance | 23,740 and 23,860 |
Bank Nifty Daily Chart Prediction
Prediction For Saturday, Bank NIFTY can go up if it goes above 49,600 or down after the level of 49,000, but it all depends upon the Global cues.
Bank Nifty continues its downward trend. Traders with short positions should maintain them but set a stop-loss at 49,048 for daily closing to limit losses. If the index moves up, resistance is at 49,600-49,900. Support levels are at 49,000 and 48,600, key points to watch for potential reversals.
| Highest Call Writing at | 49,600 (10.6 Lakh) |
| Highest Put Writing at | 49,000 (10.2 Lakh) |
Bank Nifty Support and Resistance
| Support | 49,000 and 48,600 |
| Resistance | 49,600-49,900 |
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