In the Stock Market Today, Nifty surpasses 24,800, Sensex gains 148 points; strong performance in banking, metals, and realty sectors.
Stock Market Nifty Chart Prediction.
On August 22, The Sensex rose by 147.89 points, to reach 81,053.19, while the Nifty gained 41.30 points, to settle at 24,811.50. Approximately 2,111 shares advanced, -1,299 shares fell, and 92 shares remained unchanged.
Top Nifty gainers: Grasim Industries, Tata Steel, Bharti Airtel and Apollo Hospitals
Top Nifty Losers: Tata Motors, Dr Reddy’s Labs, NTPC, Wipro and M&M.
The power sector index dropped by 1%, with the pharma, oil & gas, auto, and IT sectors also closing slightly lower. Conversely, the banking, FMCG, metal, realty, and telecom sectors saw gains of 0.5-1.4%.
BSE midcap and smallcap indices rose 0.5% each.
Stock Prediction for 23rd August 2024.
| STOCK | Good Above | Weak Below |
| DABUR | 650 | 644 |
| UPL | 582 | 576 |
| INHOTEL | 650 | 644 |
| MANAPPURM | 221 | 217 |
Prediction For Friday, NIFTY can go up if it goes above 24,850 or down after the level of 24,800, but it all depends upon the Global cues.
Nifty started the day flat and consolidated throughout, finishing with a gain of around 41 points. The hourly momentum indicator shows a negative crossover and divergence, suggesting the possibility of an intraday dip, so caution is advised on long positions. Nifty is nearing the 24,830 mark, which could limit further upward movement. The overall trend remains sideways, with a consolidation range between 24,200 and 24,900. Resistance is seen at 24,850-24,950, while support lies between 24,800 and 24,600.
| Highest Call Writing at | 24,850 (2.7 Crore) |
| Highest Put Writing at | 24,800 (2.9 Crore) |
Nifty Support and Resistance
| Support | 24,800 and 24,600 |
| Resistance | 24,850 and 24,950 |
Bank Nifty Daily Chart Prediction.
Prediction For Friday, 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.
Bank Nifty continued the positive momentum that began in the latter half of the previous trading session. After a period of underperformance, Bank Nifty is now poised for an upward move toward the 51,500 – 51,900 range from a short-term perspective. Long positions should maintain a stop-loss at 50,400. Resistance is expected between 51,100-51,800, with support levels at 51,000-50,300.
| Highest Call Writing at | 51,100 (27.4 Lakhs) |
| Highest Put Writing at | 50,300 (23.7 Lakhs) |
Bank Nifty Support and Resistance
| Support | 51,000 and 50,300 |
| Resistance | 51,100 and 51,800 |
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