In Stock Market Today, Nifty and Sensex created a Fresh Record High; FMCG Sees Gains, While IT Major Drags.
Stock Market Nifty Chart Prediction.
Closing with a positive note in the Stock Market on December 19, Nifty reached 21,450 points in a volatile session. The Sensex ended up 0.17% at 71,437.19, and Nifty gained 0.16% at 21,453.10. Top Nifty gainers included Coal India and Nestle India, while SBI Life Insurance and Hero MotoCorp were among the losers. In sectors, metal, pharma, oil & gas, power, and FMCG rose, while auto, capital goods, realty, and IT declined. The smallcap index hit a new high before closing with marginal gains, while the BSE Midcap index lost 0.3%.
Stock Prediction for 20th Dec 2023
1) MARICO: Good Above 546, Weak Below: 541
2) BATAINDIA: Good Above 1681, Weak Below 1661
3) CIPLA: Good Above 1243, Weak Below 1225
4) HINDUNILVT: Good Above 2575, Weak Below 2550
Prediction For Wednesday NIFTY can go up if it goes above 21500 or down after the level of 21450 but all depends upon the Global cues.
Despite starting flat, the market gained slightly, staying within a narrow range with mixed signals. In the first hour, Nifty dipped despite positive global cues, but later, buying in select heavyweights erased losses. The energy and FMCG sectors did well, while IT and metal declined. Broader indices had a quiet session, closing nearly unchanged or slightly down. If Nifty breaks the 21500 resistance tomorrow, it could go up to 21550, depending on global factors. Conversely, if it falls, it may find support at 21450-21400; breaking this level could lead to further decline.
| Highest Call Writing at | 21500 (1.2 Crore) |
| Highest Put Writing at | 21400 (1.1 Crore) |
Nifty Support and Resistance
| Support | 21450, 21400 |
| Resistance | 21500, 21550 |
Bank Nifty Daily Chart Prediction
Prediction For Wednesday Bank NIFTY can go up if it goes above 48000 or down after the level of 47500 but it all depends upon the Global cues.
Expected to consolidate between 47,500 and 48,000, Bank Nifty holds crucial support at 47,500. As long as it maintains above 47,500, there’s an anticipation of resuming its upward movement towards 48,000-48,200. Perceived as buying opportunities, any declines toward 47,800 – 47,500 should be considered in the context of the overall positive trend. But it all depends on the Global Cue.
| Highest Call Writing at | 48000 (48.2 Lakhs) |
| Highest Put Writing at | 47500 (32.6 Lakhs) |
Bank Nifty Support and Resistance
| Support | 47800, 47500 |
| Resistance | 48000, 48200 |
Also, check our Article on the Top Traded Strategies used in Bank Nifty.
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