Nifty crosses 21,800 on final expiry of 2023; Sensex jumps 372 pts.
Stock Market Nifty Chart Prediction.
Bulls kept domestic markets on a solid ground with both NSE Nifty and BSE Sensex hitting new all-time highs towards the end of trading session.
At close, The Sensex and Nifty reached new highs, with Sensex at 72,410.38 (up 0.52%) and Nifty at 21,778.70 (up 0.57%). Both indices set records during the day, touching 72,484.34 and 21,801.45, respectively. The Bank Nifty also achieved a new high at 48,636.45.
Top performer on the Nifty included Coal India, NTPC, M&M, Dr Reddy’s Laboratories and Hero MotoCorp , while Adani Enterprises, Eicher Motors, LTIMindtree, L&T and Adani Ports were among the losers.
BSE Midcap index was up 0.66 percent and smallcap index rose 0.2 percent.
Stock Prediction for 29th Dec 2023
1) ACC: Good Above 2186,Weak Below 2162
2) CANBK: Good Above 444, Weak Below 439
3) RECLTD: Good Above 415, Weak Below 410
4) LICHSGFIN: Good Above 529,Weak Below 524
Prediction For Thursday NIFTY can go up if it goes above 21800 or down after the level of 21750 but all depends upon the Global cues.
The Nifty maintained a strong bullish stance, reaching a fresh all-time high. Robust put writing at the 21700 strike provided support to the bulls, pushing the index towards the 21800 level. Short-term support is identified at 21700, indicating an ongoing bullish sentiment. If the index decisively surpasses 21800, there is potential for further upward movement towards the 22000 level.
| Highest Call Writing at | 21800 (1.6 Crores) |
| Highest Put Writing at | 21750 (1.6 Crores) |
Nifty Support and Resistance
| Support | 21750, 21500 |
| Resistance | 21750, 21800 |
Bank Nifty Daily Chart Prediction
Prediction For Thursday Bank NIFTY can go up if it goes above 48600 or down after the level of 48500 but it all depends upon the Global cues.
The Bank Nifty has moved up after a recent period of stability, indicating positive sentiment and sustaining a favorable trend above the short-term moving average. As long as it stays above 48500, the short-term outlook is optimistic, with resistance noted at 49000.
| Highest Call Writing at | 48600 (59.3 Lakhs) |
| Highest Put Writing at | 48500 (80.3 Lakhs) |
Bank Nifty Support and Resistance
| Support | 48500, 47000 |
| Resistance | 48600, 48500 |
Also, check our Article on how Rounding Top Pattern is formed on various stocks.
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