In the Stock Market Today, Nifty hovers around 21,500, Sensex witnesses an 802-point decline; Positive performance from PSU banks.
Stock Market Nifty Chart Prediction.
On January 30, amid a volatile market session, benchmark indices ended lower, and Nifty settled around 21,500. Key losers on the Nifty included Bajaj Finance, Titan Company, UltraTech Cement, NTPC, and Reliance Industries, while top gainers were Tata Motors, BPCL, Grasim Industries, Eicher Motors, and SBI. Most sectors saw declines, except for realty and PSU Bank, with capital goods, FMCG, pharma, and power experiencing drops of 0.5-1 percent. The BSE Midcap index declined by 0.5 percent, and the Smallcap index closed the day on a flat note.
Stock Prediction for 31st Jan 2024
| STOCK | Good Above | Weak Below |
| HAL | 3030 | 3000 |
| ICICIPRULI | 501 | 496 |
| JINDALSTEL | 750 | 743 |
| TORNTPHARM | 2475 | 2450 |
Prediction For Wednesday NIFTY can go up if it goes above 21700 or down after the level of 21500 but all depends upon the Global cues.
Nifty showed fluctuations today with a bearish trend. The daily chart suggests a potential bearish outlook, and support is at 21500. If it dips below, a correction might occur. Trading above 21500 could lead to an upward movement. Resistance is at 21700.
| Highest Call Writing at | 21700 (67.5 Lakhs) |
| Highest Put Writing at | 21500 (42.0 Lakhs) |
Nifty Support and Resistance
| Support | 21,500, 21,250 |
| Resistance | 21,700, 21,800 |
Bank Nifty Daily Chart Prediction.
Prediction For Wednesday Bank NIFTY can go up if it goes above 46000 or down after the level of 45000 but it all depends upon the Global cues.
BankNifty index faced consistent resistance near the 45500 level in the past two days. For a sustained upward momentum towards the crucial resistance at 46000, the index needs to break through. On the downside, immediate support is at 45000. A break below this level might escalate selling pressure, triggering a decline towards 44430.
| Highest Call Writing at | 46,000 (38.9 Lakhs) |
| Highest Put Writing at | 45,000 (23.6 Lakhs) |
Bank Nifty Support and Resistance
| Support | 45,000, 44,430 |
| Resistance | 46,000, 47,000 |
Also, check our Article on the Impact of Budget 2024 on the Stock Market.
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