In the Stock Market Today, Sensex rises by 540 points, Nifty nears 22,000; small and mid-cap stocks lead.
Stock Market Nifty Chart Prediction.
On March 21, Sensex climbed 539.50 points and Nifty increased by 172.90 points. Positive global signals, a supportive Fed, and expectations of three rate cuts in 2024 prompted broad market buying. Among stocks, 2,591 rose, -766 declined, and 88 stayed unchanged.
Top Performance in Nifty were Engineers NTPC, BPCL, Powergird and Tata Steel, whereas Bhartiartl, HDFClife, Maruti and ICICIbank were losers.
All sectors finished the session positively, with industries like public sector enterprises, metals, capital goods, pharmaceuticals, real estate, and PSU banks gaining over 2 percent.
Both the BSE Midcap and Smallcap indices also saw a 2 percent rise each
Stock Prediction for 22nd March 2024.
| STOCK | Good Above | Weak Below |
| COROMANDEL | 1072 | 1056 |
| HDFCBANK | 1454 | 1440 |
| LT | 3570 | 3540 |
| RELIANCE | 2916 | 2889 |
Prediction For Thursday, NIFTY can go up if it goes above 22,050 or down after the level of 22,000 but all depends upon the Global cues.
Today, Nifty jumped up after showing a Doji candlestick pattern, indicating a strong shift towards bullish sentiment. It may continue its upward momentum between 22,050 and 22,200. If it drops below 22,000, the next support level is at 21,950.
| Highest Call Writing at | 22,050 (1.9 Crores) |
| Highest Put Writing at | 22,000 (2.8 Crores) |
Nifty Support and Resistance
| Support | 22,000, 21,950 |
| Resistance | 22,050, 22,200 |
Bank Nifty Daily Chart Prediction.
Prediction For Thursday, Bank NIFTY can go up if it goes above 47,000 or down after the level of 46,500 but it all depends upon the Global cues.
Bank Nifty remained strong today and followed a pattern similar to Nifty. In terms of resistance, if it surpasses 47,000, it could potentially reach 47,230. On the support side, 46,500 will be a critical level. If it falls below, it might test 46,320.
| Highest Call Writing at | 47,000 (26.0 Lakhs) |
| Highest Put Writing at | 46,500 (19.3 Lakhs) |
Bank Nifty Support and Resistance
| Support | 46,500, 46,320 |
| Resistance | 47,000, 47,230 |
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