In Stock market today Nifty drops below 19,300, resulting in an 826-point fall in the Sensex, with mid and small-cap stocks taking the hardest hit.
Stock Market Nifty Chart Prediction.
The Nifty began the day weak and closed with a decline of around 260 points, breaking a significant support level at 19,333 and signaling a breakdown as confirmed by weekly, daily, and hourly momentum indicators showing a negative crossover, indicating a sell signal, with the Nifty expected to potentially drift towards 19,000 in the short term, while facing immediate resistance around 19,500 – 19,530 as per the role reversal principle. Bank Nifty also experienced a sharp drop, breaking the 43,500 level and potentially heading towards the psychological level of 43,000 and even 42,490, with the current weakness likely to persist in the upcoming trading sessions.
Prediction For Wednesday NIFTY can go up if it goes above 19400 or go down after the level of 19200 but all depend upon the Global cues.
There are good chances of market going down as today market opened flat and then it was in range but after sometime it started coming down and closed near level of 19275. If it goes beyond any level given above it will give a one side move on any side up or down. If Nifty gives flat opening, it may move to the level of 19400 or 19200 But all these aspects depend upon the Global cues.
| Highest Call Writing at | 19,500 (1.6 crores) |
| Highest Put Writing at | 19,500 (2.4 crores) |
Nifty Support and Resistance
| Support | 19200,19100 |
| Resistance | 19400,19500 |
Bank Nifty Daily Chart Prediction
Prediction For Wednesday Bank NIFTY can go up if it goes above 43500 or go down after the level of 43000 but all depend upon the Global cues.
Today, BANK NIFTY opened flat in morning but after that there was in range but in afternoon there was more weakness. Today bank nifty has closed in red and closed near its critical level of 43200 which has made bank nifty weak again For Wednesday. you can go with the strategy of sell on rise.
| Highest Call Writing at | 44000 (26.4Lakhs) |
| Highest Put Writing at | 43000 (21.1 Lakhs) |
Bank Nifty Support and Resistance
| Support | 43000,42800 |
| Resistance | 43500,43600 |
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