In the Stock Market Today, Nifty falls below 21,850, Sensex drops by -736 points; all sectors showing losses.
Stock Market Nifty Chart Prediction.
On March 19, Indian Market fell by -1 percent, with the Nifty closing at 21,800 amid widespread selling across sectors.
Nifty fell by 1.08 percent at 21,817.50, while the Sensex concluded the day down by 1.01 percent at 72,012.05.
Nifty’s top losers were TCS, BPCL, Tata Consumer Products, Tata Consumer, and Nestle India, whereas top gainers where Bajaj Finance, Bajaj Auto, Kotak Mahindra Bank, Hindalco Industries, and Bharti Airtel.
All sectoral indices closed in negative territory, with Healthcare, IT, FMCG, Capital Goods, oil & gas, and power sectors witnessing declines of 1-2 percent.
Both the BSE Midcap and Smallcap indices recorded losses of 1 percent each.
Stock Prediction for 20th March 2024.
| STOCK | Good Above | Weak Below |
| ICICIBANK | 1090 | 1075 |
| JSWSTEEL | 805 | 798 |
| LT | 3511 | 3481 |
| M&M | 1850 | 1828 |
Prediction For Wednesday, NIFTY can go up if it goes above 22,000 or down after the level of 21,800 but all depends upon the Global cues.
Closing below the 21,850 level, Nifty broke its daily trendline and formed a bearish candlestick, signalling potential downward movement. Immediate support is anticipated between 21,800 and 21,000, while the 22,000 level poses an immediate resistance.
Analysing Open Interest (OI) data in the software, the call side shows the highest OI at the 22,000 strike price, followed by the 22,500 strike price. Conversely, the put side displays the highest OI at the 21,000 strike price.
| Highest Call Writing at | 22,000 (1.1 Crore) |
| Highest Put Writing at | 21,800 (43.2 Lakhs) |
Nifty Support and Resistance
| Support | 21,800, 21,000 |
| Resistance | 22,000, 22,500 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday, Bank NIFTY can go up if it goes above 47,000 or down after the level of 46,000 but it all depends upon the Global cues.
BankNifty traded sideways again today, showing uncertainty between buyers and sellers, as indicated by the doji candle formation. Keep an eye on the support level at 46,000 and resistance at 47,000.
| Highest Call Writing at | 47,000 (42.8 Lakhs) |
| Highest Put Writing at | 46,000 (20.8 Lakhs) |
Bank Nifty Support and Resistance
| Support | 46,000, 45,500 |
| Resistance | 47,000, 48,000 |
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