Home » Stock Market Prediction for Nifty & Bank Nifty 29th Oct 2024

Stock Market Prediction for Nifty & Bank Nifty 29th Oct 2024

In today’s stock market, Market has ended a five-day decline, with the Nifty surpassing 24,300 and the Sensex rising by 603 points.

Stock Market Nifty Chart Prediction.

On October 28, The Sensex increased by 602.75 points, reaching 80,005.04, while the Nifty rose by 158.40 points, to stand at 24,339.20. There were approximately 2,470 shares that gained ground, -1,357 shares that fell, and 151 shares that remained unchanged.

Top Nifty gainers:  Shriram Finance, Adani Enterprises, ICICI Bank, Eicher Motors and Wipro,
Top Nifty Losers:  Coal India, Bajaj Auto, Axis Bank, Kotak Mahindra Bank and Hero MotoCorp.

All sectoral indices closed in positive territory, with the PSU Bank index climbing by 3.8%. The Metal index saw a gain of 2.5%, while the pharma, media, and real estate sectors each increased by over 1%.

BSE Midcap Index was up 0.7% and smallcap index gained 1%.

Stock Prediction for 29th Oct 2024
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Prediction for Tuesday NIFTY can go up if it goes above 24,500 or down after the level of 24,000, but it all depends upon the Global cues.

The Nifty made a strong recovery, briefly reaching the 24,500 resistance level in the first half of the day. However, profit-taking in the latter part of the session reduced the overall gains. Currently, the Nifty is in a downward trend. If you hold short positions, it’s advisable to maintain them with a daily closing stop-loss set at 24,529. Resistance levels are between 24,500 and 25,000, while support levels are found at 24,000 to 23,800.

Highest Call Writing at
24,500 (84.4 Lakh)
Highest Put Writing at
24,000 (74.5 Lakh)

Nifty Support and Resistance

Support 24,000 and 23,800
Resistance
24,500 and 25,000

Bank Nifty Daily Chart Prediction.

Prediction For Tuesday, Bank NIFTY can go up if it goes above 51,500 or down after the level of 50,500, but it all depends upon the Global cues.

The Bank Nifty is presently experiencing a downward trend. If you have short positions, it is recommended to keep holding them, setting a daily closing stop-loss at 51,699. Resistance levels are identified between 51,500 and 52,000, while support levels are at 50,500 to 50,000.

Highest Call Writing at51,500 (33.1 Lakh)
Highest Put Writing at50,500 (21.3 Lakh)

Bank Nifty Support and Resistance

Support50,500 and 50,000
Resistance
51,500 and 52,000

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