In Stock markets today there was a broad-based selloff, the Sensex plummeted 570 points, dragging the Nifty below the 19,750-point mark.
Stock Market Nifty Chart Prediction.
The Nifty experienced a second consecutive gap-down opening and closed approximately 159 points lower, retracing from its recent rally of 19,223 to 20,222 to a support zone at 19,720 to 19,680, marked by the 20-day moving average and the 50 percent Fibonacci retracement level, with expectations of a potential rebound; however, the negative crossover in the daily momentum indicator signals a sell signal, and key levels to watch are 19,680 to 19,604 as crucial support and 19,850 to 19,900 as immediate resistance. Meanwhile, the Bank Nifty exhibited a sharp correction, breaking below the 20 and 40-day moving averages, indicating weakness, and the daily momentum indicator confirms a sell signal, potentially targeting levels of 44,500 to 44,360, aligning with the 20-week moving average and the 78.6 percent Fibonacci retracement level.
Prediction For Friday NIFTY can go up if it goes above 19800 or go down after the level of 19700 but all depend upon the Global cues.
There are good chances of market going in downwards direction as today market was down. It takes support near 19700 and closed near this level. If it goes beyond any level given above it will give a one side move on any side up or down. Nifty gives flat opening, it may move to the level of 19850 or 19700 But all these aspects depend upon the Global cues.
| Highest Call Writing at | 19750 (3 CR) |
| Highest Put Writing at | 19,750 (2.8 CR) |
Nifty Support and Resistance
| Support | 19700,19600 |
| Resistance | 19800,19850 |
Bank Nifty Daily Chart Prediction
Prediction For Friday Bank NIFTY can go up if it goes above 44800 or go down after the level of 44500 but all depend upon the Global cues.
Today, BANK NIFTY opened gap down in morning but after that there was more down move in bank nifty. But most of the time bank nifty was in down. Today bank nifty has again closed in red and closed below its critical level of 44800 which has made bank nifty weak again For Friday you can go with the strategy of sell on rise.
| Highest Call Writing at | 45000 (36 Lakhs) |
| Highest Put Writing at | 44000 (29 Lakhs) |
Bank Nifty Support and Resistance
| Support | 44500,44400 |
| Resistance | 44800,44900 |
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