In Stock Market Today, Nifty below 22,150, while Sensex down 353pts. Nifty Bank sees a -0.50% down. Small cap index outperforms.
Stock Market Nifty Chart Prediction.
At the market close, the Sensex recorded a decrease of 352.67 points or 0.48%, settling at 72,790.13. Similarly, the Nifty experienced a decline of 90.70 points or 0.41%, ending at 22,122. Among the stocks traded, 1538 witnessed gains, 1907 saw declines, while 107 remained unchanged.
Asian Paints, Hindalco Industries, Apollo Hospitals, Divis Labs and Titan Company led the Nifty’s losers, while Power Grid Corp, L&T, Adani Enterprises, BPCL and Tata Consumer were among the top gainers.
Meanwhile, the Information Technology and Metal sectors dropped by 1 percent each, while the Bank and Pharma sectors fell by 0.5 percent each. Conversely, the oil & gas, power, and capital goods sectors rose by 0.5 to 1 percent.
BSE Midcap index lost 0.4 percent, while Smallcap index ended on a flat note.
Stock Prediction for 27th February 2024.
| STOCK | Good Above | Weak Below |
| AMBUJACEM | 613 | 606 |
| EICHERMOT | 3970 | 3938 |
| RELIANCE | 3000 | 2970 |
| SBIN | 763 | 756 |
Prediction For Tuesday, NIFTY can go up if it goes above 23000 or down after the level of 21500 but all depends upon the Global cues.
The Nifty commenced trading with weakness and continued to decline throughout the day, ultimately closing approximately 90 points lower. Analysis of the daily charts reveals that the Nifty has been consolidating over the past four trading sessions, trading within the range of 21,800 to 22,300. This consolidation phase may persist until there is a definitive breakout from this range.
| Highest Call Writing at | 23,000 (1.3 Crore) |
| Highest Put Writing at | 21,500 (69.2 Lakhs) |
Nifty Support and Resistance
| Support | 21,500, 21,000 |
| Resistance | 23,000, 22,500 |
Bank Nifty Daily Chart Prediction.
Prediction For Tuesday, Bank NIFTY can go up if it goes above 50000 or down after the level of 45000 but it all depends upon the Global cues.
Regarding the bank Nifty, it has maintained a range between 46,400 and 47,400. This range-bound behaviour is expected to persist unless there’s a clear movement in the major stocks within the index. In the Nifty Bank Index, a potential bullish trend hinges on trading above 47,460, with a target set at 48,280. Support levels are anticipated at 46,325, with further support expected at 45,950 and 45,200 if the index dips below.
| Highest Call Writing at | 50,000 (28.4 Lakhs) |
| Highest Put Writing at | 45,000 (24.2 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,000, 44,000 |
| Resistance | 50,000, 47,000 |
Also, learn what a Shooting Star Candlestick Pattern indicates.
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