Today, the Sensex rose by 102.44 points, and the Nifty closed at 24,770. Investors are looking for rate cut hints from Powell’s weekend speech.
Stock Market Nifty Chart Prediction.
On August 21, The Sensex was up 102.44 points at 80,905.30, and the Nifty was up 71.37 points at 24,770.20.
Top Nifty gainers: Divi’s Labs, Titan Company, SBI Life Insurance, Cipla and Grasim Industries
Top Nifty Losers: Tech Mahindra, UltraTech Cement, Tata Steel, Power Grid Corp and HDFC Bank..
In sector updates, the Realty index dropped by 1.3%, and the Bank index fell by 0.2%. Meanwhile, the FMCG, Pharma, Metal, Telecom, and Media sectors each gained between 0.5% and 1%.
The BSE midcap index rose 0.4 percent while the smallcap index added nearly 1 percent, outperforming headline indices.
Stock Prediction for 22nd August 2024.
| STOCK | Good Above | Weak Below |
| MUTHOOTFIN | 1936 | 1914 |
| VEDL | 457 | 452 |
| CHAMBLFERT | 529 | 523 |
| BRITANNIA | 5852 | 5814 |
Prediction For Thursday, NIFTY can go up if it goes above 24,830 or down after the level of 24,900, but it all depends upon the Global cues.
The Nifty started the day flat and stayed steady for most of it. It formed a positive candle on the chart, breaking past the previous gap from August 5 at around 24,700. Resistance is expected between 24,830 and 24,900, while support is around 24,550 to 24,500.
| Highest Call Writing at | 24,830 (69.6 Lakhs) |
| Highest Put Writing at | 24,550 (80.3 Lakhs) |
Nifty Support and Resistance
| Support | 24,830 and 24,900 |
| Resistance | 24,550 to 24,500 |
Bank Nifty Daily Chart Prediction.
Prediction For Thursday, Bank NIFTY can go up if it goes above 51,000 or down after the level of 50,300 but it all depends upon the Global cues.
The Bank Nifty dropped during the day to a key support zone of 50,350 to 50,300 but then saw buying interest. As long as this support zone holds, we can expect the Bank Nifty to rally. The resistance range is between 51,000 and 51,500, while support is found between 50,300 and 49,600.
| Highest Call Writing at | 51,000 (49.3 Lakhs) |
| Highest Put Writing at | 50,300 (67.4 Lakhs) |
Bank Nifty Support and Resistance
| Support | 50,300 and 49,600 |
| Resistance | 51,000 and 51,500 |
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