In the stock market today, Sensex records a rise of 213 points, with Nifty hovering around 19,450. While banks experience a rally, the power sector faces a decline.
Stock Market Nifty Chart Prediction.
On August 23, the equity indices showed significant gains. The Nifty reached around 19,450 points, boosted by stocks from the metal, bank, capital goods, and realty sectors.
By the end of the trading day, the Sensex increased by 213.27 points, which is about 0.33 percent, reaching 65,433.30. Similarly, the Nifty went up by 47.50 points or 0.24 percent, landing at 19,444 points.
After starting with little change, the market’s trading remained within a certain range during the first half of the day. However, a surge in buying activity during the second half led to a close near the day’s high.
Key gainers on the Nifty included Hindalco Industries, Axis Bank, ICICI Bank, SBI, and L&T, while some of the losers were Adani Enterprises, Adani Ports, Sun Pharma, Bharti Airtel, and Tata Motors.
Sector-wise, there was a mix of trends. Banking, metal, capital goods, and realty sectors saw gains of 0.4-1 percent each, while power, FMCG, and oil & gas sectors experienced declines of 0.3-1 percent.
The BSE midcap index went up by 0.4 percent, and the smallcap index increased by 0.6 percent each.
Prediction For Thursday NIFTY can open up near to 19,500 but it all depends upon the Global cues.
The Nifty index is currently moving between the range of 19,300 and 19,500 points. When we look at its daily performance, it has been shifting within the limits set by two indicators: the 21-day Exponential Moving Average (EMA) at 19,471 points and the 50-day EMA at 19,281 points. Looking ahead, we can expect the Nifty to keep moving within this range as long as it stays between these two levels. If it manages to go above the 19,500 mark, it might lead to a surge in its value to even higher levels.
| Highest Call Writing at | 19,600 (1.2 crores) |
| Highest Put Writing at | 19,300 (1.4 crores) |
Nifty Support and Resistance
| Support | 19,400 & 19,300 |
| Resistance | 19500 & 19,550 |
Bank Nifty Daily Chart Prediction
Prediction For Wednesday Bank NIFTY can go up if it opens above 44500 or go down after the level of 44000 but all depend upon the Global cues.
The BANKNIFTY index, which currently stands at 44,479 points, Bank Nifty was strong today compared to Nifty, experienced a positive shift in its trend during the recent trading session. If considering trading in BANKNIFTY, might be strong for upcoming Trading sessions. As long as BANKNIFTY remains above the 44,000 level, it is expected to maintain its strength.
| Highest Call Writing at | 45000 (38.5 Lakhs) |
| Highest Put Writing at | 44000 (65.3 Lakhs) |
Bank Nifty Support and Resistance
| Support | 44600 & 45000 |
| Resistance | 44000& 43900 |
If you’d like to know how do we analyze the market and provide accurate levels every day. then click on the Free Demo button below and change your trading life for good. 5X returns are possible in options trading, If you have Spider Software in your trading system.
Also, Check out our article on Top of Cryptocurrencies to look for in 2023.
