In today’s stock market, the Sensex fell 721 points, with the Nifty dropping to 24,000, driven by losses in IT, pharma, and banking stocks.
Stock Market Nifty Chart Prediction
On January 3, the Sensex dropped 720.60 points to 79,223.11, and the Nifty fell 183.90 points to 24,004.75. Of the total shares, 2,048 advanced, 1,778 declined, and 111 remained unchanged.
Top Nifty gainers: ONGC, Tata Motors, SBI Life Insurance, Titan Company and HUL.
Top Nifty Losers: Wipro, ICICI Bank, HDFC Bank, Tech Mahindra and Adani Ports
Among sectors, banks, capital goods, IT, and pharma each dropped 1%, while oil & gas and media gained 1% each..
BSE Midcap index was down 0.33 percent, while smallcap index ended flat.
Stock Prediction for 6th Jan 2025
| STOCK | Good Above | Weak Below |
| CHOLAFIN | 1320 | 1305 |
| HUDCO | 251 | 246 |
| JINDALSTEL | 961 | 950 |
| SRF | 2304 | 2280 |
Prediction for Monday NIFTY can go up if it goes above 24,250 or down after the level of 23,980, but it all depends upon the Global cues.
The market took a break after a three-day rally, dropping more than half a percent. After a flat opening, the Nifty traded in a small range for most of the day and ended near its lowest point at 24,005. This pullback seems like a typical pause after a recent rise and might continue until the Nifty moves past the next resistance level of 24,250-24,400. Support is seen between 23,980 and 23,700.
| Highest Call Writing at | 24,250 (1.0 Crore) |
| Highest Put Writing at | 23,980 (81.2 Lakhs) |
Nifty Support and Resistance
| Support | 23,980 and 23,700 |
| Resistance | 24,250-24,400 |
Bank Nifty Daily Chart Prediction
Prediction For Monday, Bank NIFTY can go up if it goes above 51,250 or down after the level of 50,750, but it all depends upon the Global cues.
Bank Nifty continues its positive trend as observed in today’s trading session, closing at 50,969.60. Based on the updated analysis, a long position can be initiated with a stop-loss at 50,750 on a daily closing basis. On the downside, immediate support is identified at 50,750 and 50,500, providing stability against further decline. On the upside, resistance levels are seen at 51,250 and 51,750, marking potential breakout zones. Traders should carefully monitor these updated levels for significant price action and strategically plan their entries and exits.
| Highest Call Writing at | 51,250 (53.5 Lakh) |
| Highest Put Writing at | 50,750 (12.5 Lakh) |
Bank Nifty Support and Resistance
| Support | 50,750 and 50,500 |
| Resistance | 51,250 and 51,750 |
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