Home ยป Stock Market Prediction for Nifty & Bank Nifty 1st November 2023.

Stock Market Prediction for Nifty & Bank Nifty 1st November 2023.

The image is the faeture image of Stock Market Today & Prediction for 1st Nov 2023.

In the Stock Market Today, Nifty falls under 19,100, Sensex declines by 220 points; real estate sector performs well.

Stock Market Nifty Chart Prediction.

The image is of a Nifty Chart in which a Daily Chart is been showed for the Prediction of Stock Market of 1st November 2023.

On October 31, the stock market witnessed a volatile session, leading benchmark indices to close lower. The Nifty index fell below the 19,100 mark.

At the end of the trading day, the Sensex, one of the key indices, dropped by 237.72 points or 0.37 percent, settling at 63,874.93. Similarly, the Nifty index lost 61.30 points or 0.32 percent, ending the day at 19,079.60. Among the stocks, 1830 advanced, 1675 declined, and 117 remained unchanged.

The major losers on the Nifty included M&M, Sun Pharma, Eicher Motors, LTIMindtree, and ONGC. On the other hand, the gainers featured SBI Life Insurance, Titan Company, HDFC Life, Kotak Mahindra Bank, and Asian Paints.

With the exception of the real estate sector, all other industry sectors concluded the day in negative territory. Auto, bank, and healthcare sectors witnessed declines ranging from 0.3 to 0.6 percent.

During the day, the BSE midcap index managed to register a 0.3 percent increase, while the smallcap index ended the day with little change.

Prediction For Wednesday NIFTY can go up if it goes above 19250 or go down after the level of 19000 but it all depends upon the Global cues.

Nifty index encountered difficulties today. It started with a gap-up opening but faced strong resistance when trying to reach higher levels, unable to surpass the day’s high. Right now, the index is moving within a wide range, bounded by 18,900 and 19,250. We might see significant price movements once it breaks out of this range, either up or down.

Highest Call Writing at19,250 (1.0 crores)
Highest Put Writing at18,900 (82.6 lakhs)

Nifty Support and Resistance

Support 19,000 & 18,900
Resistance19,100 & 19,250

Bank Nifty Daily Chart Prediction

The image is of a Bank Nifty Chart in which a Daily Chart is been showed for the Prediction of Stock Market of 1st November 2023.

Prediction For Wednesday Bank NIFTY can go up if it goes above 43500 or go down after the level of 42500 but it all depends upon the Global cues.

In the Bank Nifty, there was a trading session where it opened at a certain level and reached its highest point, indicating a strong bearish sentiment in the market. To turn things around, we need to see a closing price above 43,500. Until then, the overall trend remains negative.

If things go south, the index has support at 42,500. If it breaks below this level, it could lead to more selling pressure and push the index into the 42,000-41,900 range.

Highest Call Writing at44500 (49.9 Lakhs)
Highest Put Writing at41900 (35.7 Lakhs)

Bank Nifty Support and Resistance

Support42,500 & 41,900
Resistance43,500 & 44,500

Also, check our Article on Spinning Top Candlestick Pattern

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