Stock Market Prediction for Nifty & Bank Nifty 29th Jan 2024.

In Stock Market Today, Nifty slips below 21,400, and Sensex trims losses, closing 360 points lower; Selling observed in IT and FMCG sectors.

Stock Market Nifty Chart Prediction.

On January 25, bears took control of Dalal Street as Sensex and Nifty, the primary indices, wiped out gains from the previous session. The decline was led by banking, FMCG, and IT stocks. The Sensex concluded 359.64 points or 0.51 percent lower at 70,700.67, while the Nifty dropped by 101.40 points or 0.47 percent to 21,352.60. Although midcap indices saw corrections, smallcap indices outperformed, with Nifty Smallcap closing 0.5 percent higher. All sectoral indices, excluding Nifty Realty, traded in the red. Financial services, pharma, bank, IT, FMCG, and healthcare indices settled lower by over one percent.

Stock Prediction for 29th Jan 2024

Prediction For Monday NIFTY can go up if it goes above 21480 or down after the level of 21230 but all depends upon the Global cues.

Nifty concluded at 21,352 levels, experiencing a 0.47% decline. With the immediate resistance at 21,480, the market may trend lower towards the range of 21,230 to 21,000. A break below the 21,000 level could intensify selling pressure, reaching 20,850-20,500 levels. Any shift in trend would only occur if Nifty surpasses the 21,500 mark.

Nifty Support and Resistance

Bank Nifty Daily Chart Prediction.

Prediction For Monday Bank NIFTY can go up if it goes above 45640 or down after the level of 44490 but it all depends upon the Global cues.

Bank Nifty extends its downtrend, concluding at 44,866.10, down by -0.48%. In case of an upward move, it will encounter immediate resistance at 45,640 and 46,180, while a vital support is observed at 44,490 to 44,040.

Bank Nifty Support and Resistance

Also, check our Article on uses of Greek Analysis in Options Trading

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