In the Stock Market Today, Nifty and Sensex drop on Budget day due to LTCG and STCG hikes; real estate dips while FMCG and IT sectors rise.
Stock Market Nifty Chart Prediction.
On July 23, The Sensex fell by 73.04 points to 80,429.04, while the Nifty declined by 30.30 points to 24,479.00. There were 1,488 advancing shares, -1,949 declining shares, and 74 shares remained unchanged.
In various sectors, the auto, FMCG, healthcare, and IT indices increased by 0.5-2%. On the other hand, the bank, capital goods, metal, oil & gas, and real estate sectors saw declines of 0.5-2%.
Top Nifty gainers: Titan Company, Tata Consumer, ITC, HUL and Adani Ports.
Top Nifty Losers: L&T, ONGC, Hindalco, Shriram Finance and Bajaj Finance.
BSE midcap index shed 0.5%, while the smallcap index ended on flat note.
Stock Prediction for 24th July 2024.
| STOCK | Good Above | Weak Below |
| ADANIPORTS | 1521 | 1500 |
| COFORGE | 6202 | 6162 |
| EICHERMOT | 4935 | 4900 |
| HCLTECH | 1605 | 1580 |
Prediction For Wednesday, NIFTY can go up if it goes above 25,000 or down after the level of 24,000 but it all depends upon the Global cues.
The Nifty dropped nearly 500 points from its intraday high, but after the budget announcement, it rebounded by 470 points from its day low. This recovery signals strong bullish momentum likely to persist in the coming days. If the index closes above the 23,500-23,600 levels, it could achieve new all-time highs. Immediate resistance is set at 25,000-25,500, with support at 24,000-23,600.
| Highest Call Writing at | 25,000 (1.1 Crore) |
| Highest Put Writing at | 24,000 (90.9 Lakhs) |
Nifty Support and Resistance
| Support | 24,000-23,600 |
| Resistance | 25,000- 25,500 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday, Bank NIFTY can go up if it goes above 52,800 or down after the level of 52,000 but it all depends upon the Global cues.
The index faced a correction throughout the day due to market weakness. Sentiment is likely to remain subdued in the short term, especially if the index stays below 52,100. Support may shift to the 51,200-51,000 range on the downside, while resistance is expected to be between 53,000 and 53,500 on the upside.
| Highest Call Writing at | 52,800 (17.1 Lakhs) |
| Highest Put Writing at | 52,000 (9.7 Lakhs) |
Bank Nifty Support and Resistance
| Support | 51,200-51,000 |
| Resistance | 53,000-53,500 |
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