In Stock Market Today, For the first time, Nifty surpasses 22,200; Sensex gains +349 points, with realty and banks leading the way.
Stock Market Nifty Chart Prediction.
On February 20, Indian benchmark indices continued their upward trend for the sixth consecutive session, with Nifty reaching a record high above 22,200 for the first time.
Nifty rose by +74.70 points, or +0.34 percent, to 22,197.00, while Sensex gained +349.24 points at the close, rising by +0.48 percent to 73,057.40.
Top gainers included Power Grid Corporation, HDFC Bank, Axis Bank, NTPC, and Kotak Mahindra Bank, while
Hero MotoCorp, Coal India, Bajaj Auto, Eicher Motors, and TCS were among the losers.
In terms of sectors, banking, media, power, and realty saw gains of +0.8-+2 percent each, while
auto, IT, and metal witnessed declines of nearly -1 percent each.
BSE Midcap and Smallcap indices ended with slight losses.
Stock Prediction for 21st February 2024.
| STOCK | Good Above | Weak Below |
| ACC | 2704 | 2678 |
| BHARTIARTL | 1155 | 1140 |
| HDFCAMC | 3811 | 3752 |
| ONGC | 281 | 275 |
Prediction For Wednesday, NIFTY can go up if it goes above 22600 or down after the level of 22100 but all depends upon the Global cues.
Following a breakout in consolidation on the daily chart, Nifty maintains its upward momentum. The trend remains strong, with the index holding above the key level of 22,000. If Nifty decisively surpasses the 22,200 mark, it may move towards 22,600 or even 23,000. Support is identified at 22,100-22,000 on the lower end.
| Highest Call Writing at | 22,600 (63.3 Lakhs) |
| Highest Put Writing at | 22,100 (65.6 Lakhs) |
Nifty Support and Resistance
| Support | 22,100, 22,000 |
| Resistance | 22,600, 23,000 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday, Bank NIFTY can go up if it goes above 48000 or down after the level of 46000 but it all depends upon the Global cues.
Bulls in the BankNifty continued to lead, ending above the 47,000 mark, indicating a robust buying trend. Fresh put writing has established immediate support at 46,000. The index is expected to reach its short-term target of 48,000, where it will face resistance, if breached then can go up to 48,500.
| Highest Call Writing at | 48,000 (38.3 Lakhs) |
| Highest Put Writing at | 46,000 (44.1 Lakhs) |
Bank Nifty Support and Resistance
| Support | 46,000, 45,000 |
| Resistance | 48,000, 48,500 |
Also, learn what a Shooting Star Candlestick Pattern indicates.
Join our Upcoming Webinar on Volume-Driven Pivot Strategies: Maximizing Profit Potential. Click Here To Join.
If you’d like to know how we analyze the market and provide accurate levels every day. then click on the Free Demo button below and change your trading life for good. 5X returns are possible in options trading If you have Spider Software in your trading system.
Disclaimer: The information provided in this Blog is for educational purposes only and should not be construed as financial advice. Trading in the stock market involves a significant level of risk and can result in both profits and losses. Spider Software & Team does not guarantee any specific outcome or profit from the use of the information provided in this Blog. It is the sole responsibility of the viewer to evaluate their own financial situation and to make their own decisions regarding any investments or trading strategies based on their individual financial goals, risk tolerance, and investment objectives. Spider Software & Team shall not be liable for any loss or damage, including without limitation any indirect, special, incidental or consequential loss or damage, arising from or in connection with the use of this blog or any information contained herein.
