In the Stock Market Today, Nifty surpasses 21,700, Sensex rises by 1,241 points driven by strength in oil & gas, power, and banking sectors.
Stock Market Nifty Chart Prediction.
Indian benchmark indices concluded the day higher on January 29, with Nifty settling around 21,750. The Sensex closed with a gain of 1,240.90 points, up 1.76 percent at 71,941.57, while the Nifty rose by 385.00 points, up 1.80 percent at 21,737.60. Notable gainers on the Nifty included ONGC, Reliance Industries, Adani Enterprises, Coal India, and Adani Ports, while losers encompassed Cipla, ITC, LTIMindtree, Bajaj Auto, and Infosys. The oil & gas sector saw a 5 percent rise, Power index climbed 3 percent, and Capital Goods index was up by 2 percent. The BSE Midcap index witnessed a 1.7 percent increase, and the Smallcap index added 1 percent.
Stock Prediction for 30th Jan 2024
| STOCK | Good Above | Weak Below |
| IRCTC | 990 | 977 |
| GLENMARK | 900 | 890 |
| GODREJCP | 1173 | 1160 |
| ICICIBANK | 1024 | 1010 |
Prediction For Tuesday NIFTY can go up if it goes above 21850 or down after the level of 21500 but all depends upon the Global cues.
Opening with a gap up, the Nifty steadily advanced, closing the day in positive territory with a gain of approximately 385 points. Looking ahead, the immediate hurdle is expected in the range of 21,850 – 22,000, while the support level is situated at 21,500-21,230.
| Highest Call Writing at | 21850 (41.9 Lakhs) |
| Highest Put Writing at | 21500 (49.3 Lakhs) |
Nifty Support and Resistance
| Support | 21,500, 21,230 |
| Resistance | 21,850, 22,000 |
Bank Nifty Daily Chart Prediction.
Prediction For Tuesday Bank NIFTY can go up if it goes above 47000 or down after the level of 45500 but it all depends upon the Global cues.
Bank Nifty is currently retracing the recent decline from 48,300 to 44,500, indicating that the pullback may persist until 47,000 – 47,230. On the downside, 45,500 is a critical support level in the short term; if breached, it could extend the decline to 44,950.
| Highest Call Writing at | 47,000 (26.4 Lakhs) |
| Highest Put Writing at | 45,500 (24.6 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,500, 44,950 |
| Resistance | 47,000, 47,230 |
Also, check our Article on the Impact of Budget 2024 on the Stock Market.
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