Today, Nifty hit 24,600 and Sensex was down by 12.16 points, with mixed market reactions ahead of the Federal Reserve meeting.
Stock Market Nifty Chart Prediction.
On August 19, the Sensex dropped by 12.16 points to 80,424.68, while the Nifty increased by 31.50 points to 24,572.70. Approximately, 2462 shares advanced, 1089 shares declined, and 101 shares unchanged.
Top Nifty gainers: Hindalco Industries, BPCL, Shriram Finance, Tata Steel and LTIMindtree
Top Nifty Losers: M&M, Bajaj Auto, Axis Bank, IndusInd Bank and SBI Life Insurance.
Aside from auto and bank sectors, all other indices went up, with healthcare, IT, metal, oil & gas, power, telecom, and media rising between 0.5% and 2%.
The BSE midcap index was up 0.6 percent while smallcap index added 1 percent.
Stock Prediction for 20th August 2024.
| STOCK | Good Above | Weak Below |
| ASIANPAINT | 3085 | 3052 |
| METROPOLIS | 2140 | 2110 |
| MGL | 1850 | 1825 |
| NTPC | 405 | 400 |
Prediction For Tuesday, 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.
The market trend seems positive as long as it stays above 24,300. In the short term, it might fluctuate between 24,000 and 23,900. Buying when prices dip could be a good strategy unless the market falls below 24,000. The resistance levels are between 24,600 and 25,000, while support levels are between 24,000 and 23,900.
| Highest Call Writing at | 24,600 (54.8 Lakhs) |
| Highest Put Writing at | 24,000 (59.0 Lakhs) |
Nifty Support and Resistance
| Support | 24,600 and 25,000 |
| Resistance | 24,000 and 23,900. |
Bank Nifty Daily Chart Prediction.
Prediction For Tuesday, Bank NIFTY can go up if it goes above 50,700 or down after the level of 50,400 but it all depends upon the Global cues.
Banknifty has shifted into an upward trend in the latest trading session. You may consider taking a long position in Banknifty with a stop loss set at 49,493, based on the daily closing price. As long as it remains above the 49,493 mark, Banknifty will be seen as strong. The resistance is anticipated between 50,700 and 51,000, while the support ranges from 50,400 to 49,600.
| Highest Call Writing at | 50,400 (29.2 Lakhs) |
| Highest Put Writing at | 50,700 (21.8 Lakhs) |
Bank Nifty Support and Resistance
| Support | 50,400 and 49,600 |
| Resistance | 50,700 and 51,000 |
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