In Stock Market Today, Nifty fell below 22,250, while Sensex closed unchanged. PSU banks saw losses, while media stocks performed well.
Stock Market Nifty Chart Prediction.
On the final trading day of the week, benchmark equity indices reversed gains and ended in the negative territory.
The Sensex, comprising 30 shares, concluded at 73,142.80, recording a marginal decline of –15.44 points or -0.02 percent.
Similarly, the broader Nifty experienced a sideways movement after initially surging to a new peak with an upward gap at the opening.
The index closed -4.75 points or -0.02 percent lower at 22,212.70, having achieved an all-time high of 22,297.50 in early morning trading.
In the Nifty50 list, Bajaj Finserv, SBI Life, HDFC Life, LTIM, Dr. Reddy’s, Titan, Cipla, Reliance Industries, M&M, Adani Ports, Nestle India, HUL, Wipro, UltraTech Cement, and L&T showed the best. performance.
Meanwhile, BPCL, HCL Tech, Maruti, Asian Paints, ONGC, and TCS saw drops of more than -1 percent each.
Midcap100 and Smallcap100 showed a strength of +0.31 percent and +0.38 percent, respectively.
Stock Prediction for 26th February 2024.
| STOCK | Good Above | Weak Below |
| CIPLA | 1474 | 1455 |
| INDIGO | 3192 | 3164 |
| MCX | 3700 | 3660 |
| TATACONSUM | 1166 | 1156 |
Prediction For Monday, NIFTY can go up if it goes above 22500 or down after the level of 22000 but all depends upon the Global cues.
Nifty opened higher but couldn’t hold the morning gains and closed lower due to profit-taking. However, short-term sentiment remained positive as the index closed above the crucial 22,200 level, with resistance at 22,500 and support at 22,000.
| Highest Call Writing at | 22,500 (66.4 Lakhs) |
| Highest Put Writing at | 22,000 (76.5 Lakhs) |
Nifty Support and Resistance
| Support | 22,000, 21,900 |
| Resistance | 22,500, 22,600 |
Bank Nifty Daily Chart Prediction.
Prediction For Monday, Bank NIFTY can go up if it goes above 47000 or down after the level of 46310 but it all depends upon the Global cues.
Bank Nifty index has been trading within the range of 46400 – 47400 over the past three trading days, indicating consolidation. This consolidation phase is anticipated to persist before the next upward movement resumes.
The Bank Nifty could ascend towards the 47000 – 47500 range, acting as resistance. On the downside, approximately 22.7 Lakhs put writers are observed around the 45,750 level, if breached down can go down till 45,000.
| Highest Call Writing at | 47,000 (33.7 Lakhs) |
| Highest Put Writing at | 45,750 (22.7 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,750, 45,000 |
| Resistance | 47,000, 47,500 |
Also, learn what a Shooting Star Candlestick Pattern indicates.
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