In Stock Market Today, Nifty dips below 22,100, Sensex records a 434-point decline; realty and PSU banks show strong performance.
Stock Market Nifty Chart Prediction.
On February 21, Indian equity indices ended lower, breaking a 6-day winning streak, with Nifty slipping below 22,100.
Closing figures show the Nifty fell by -142.00 points or -0.64 percent to 22,055.00, while the Sensex was down by -434.31 points or -0.59 percent at 72,623.09, while.
Top Loser of the Nifty included BPCL, Coal India, Hero MotoCorp, Power Grid Corp, and NTPC, while Tata Steel, SBI, JSW Steel, Tata Consumer Products, and IndusInd Bank were among the Top Gainers.
In terms of sectors, realty and PSU Bank were the only ones trading in the green,
while all other indices were in negative territory.
Both the BSE Midcap and Smallcap indices recorded a -1 percent decline.
Stock Prediction for 22nd February 2024.
| STOCK | Good Above | Weak Below |
| GLENMARK | 908 | 894 |
| INDUSINDBK | 1521 | 1501 |
| JKCEMENT | 4288 | 4225 |
| MARICO | 541 | 534 |
Prediction For Thursday, NIFTY can go up if it goes above 22200 or down after the level of 22000 but all depends upon the Global cues.
On the daily chart, Nifty has developed a bearish engulfing pattern, suggesting a potential halt in the current uptrend. Immediate support is located at 22,000; a significant drop below this level may push the index towards 21,500. Resistance is observed at 22,200-22,500 on the upside.
| Highest Call Writing at | 22,200 (1.4 Crores) |
| Highest Put Writing at | 22,000 (79.9 Lakhs) |
Nifty Support and Resistance
| Support | 22,000, 21,500 |
| Resistance | 22,200, 22,500 |
Bank Nifty Daily Chart Prediction.
Prediction For Thursday, Bank NIFTY can go up if it goes above 47100 or down after the level of 47000 but it all depends upon the Global cues.
Bank Nifty experienced a smaller decline compared to Nifty, which dropped by -75 points. Resistance for Bank Nifty was encountered within the gap range formed on January 17th, between 47,200 and 48,000.
Anticipated support lies at 47,000, where 1 crore put writers are active; a break below this level could lead to a decline towards 46,500. On the upside, resistance is expected at 47,100-47,200.
| Highest Call Writing at | 47,100 (72.4 Lakhs) |
| Highest Put Writing at | 47,000 (1.0 Crores) |
Bank Nifty Support and Resistance
| Support | 47,000, 46,500 |
| Resistance | 47,100, 47,200 |
Also, learn what a Shooting Star Candlestick Pattern indicates.
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