In the Stock Market Today, Sensex and Nifty remain flat amid market turbulence; metals sector outperforms.
Stock Market Nifty Chart Prediction.
On May 21, Sensex dipped by 52.63 points to 73,953.31, whereas the Nifty saw a slight increase of 27.00 points, reaching 22,529.
Top Nifty gainers: Hindalco Industries, Coal India, JSW Steel, Tata Steel and Adani Ports,
Top Nifty Losers: Nestle, Hero MotoCorp, ICICI Bank, TCS and Maruti Suzuki.
Among sectoral, metal index recorded a 4 percent increase, with the power index up by 2 percent and the PSU Bank index climbing by 1.5 percent. Conversely, the FMCG index experienced a 0.5 percent decrease.
BSE midcap index up 0.3% while smallcap index down 0.2%
Stock Prediction for 22th May 2024.
| STOCK | Good Above | Weak Below |
| ACC | 2550 | 2510 |
| AXISBANK | 1140 | 1125 |
| BIOCON | 311 | 306 |
| CHOLAFIN | 1300 | 1280 |
Prediction For Tuesday, NIFTY can go up if it goes above 22,500 or down after the level of 22,400 but all depends upon the Global cues.
Nifty was marked by volatility. Although it began with a negative start, it managed to bounce back and ended the day positively, gaining approximately 27 points. Nifty has been gradually recovering after testing the lower boundary of its upward trending channel. Looking ahead, the resistance zone lies between 22500-22600, while the support zone is positioned between 22400-22300.
| Highest Call Writing at | 22,500 (51.0 Lakhs) |
| Highest Put Writing at | 22,400 (60.0 Lakhs) |
Nifty Support and Resistance
| Support | 22,400, 22,300 |
| Resistance | 22,500, 22,600 |
Bank Nifty Daily Chart Prediction.
Prediction For Tuesday, Bank NIFTY can go up if it goes above 48,300 or down after the level of 48,000 but it all depends upon the Global cues.
Bank Nifty similarly traded within a limited range and concluded the session with a downward movement, declining by around 150 points. Our analysis suggests that this is likely just a temporary halt in the broader upward trend, presenting a buying opportunity during this consolidation phase. Resistance levels are identified at 48300-49000, while support levels are seen at 48000-47500.
| Highest Call Writing at | 48,300 (37.5 Lakhs) |
| Highest Put Writing at | 48,000 (32.9 Lakhs) |
Bank Nifty Support and Resistance
| Support | 48,000, 47,500 |
| Resistance | 48,300, 49,000 |
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