In today’s stock market, Sensex fell 1,400 points, Nifty dropped 1.8%, and Bank Nifty lost 1,200 points due to broad market selling.
Stock Market Nifty Chart Prediction
On January 6, the Sensex fell by 1,258.12 points to reach 77,964.99, while the Nifty dropped by 388.70 points to stand at 23,616.05. Out of the total shares, 629 advanced, 3,329 declined, and 109 remained unchanged.
Top Nifty gainers: Apollo Hospitals, Tata Consumer, Titan Company, HCL Technologies.
Top Nifty Losers: Tata Steel, Trent, Coal India, NTPC and BPCL
All sectoral indices closed in the negative, with PSU Bank dropping 4%, and metal, realty, energy, PSU, power, and oil & gas sectors each falling by 3%.
BSE Midcap index declined by 2.4%, while the Smallcap index dropped by 3%.
Stock Prediction for 7th Jan 2025
| STOCK | Good Above | Weak Below |
| GRANULES | 610 | 604 |
| LALPATHLAB | 3025 | 2980 |
| METROPOLIS | 2050 | 2025 |
| TATACONSUM | 955 | 945 |
Prediction for Tuesday NIFTY can go up if it goes above 23,900 or down after the level of 23,260, but it all depends upon the Global cues.
The market opened lower due to renewed concerns over the new virus, causing a decline in the Index. Selling pressure increased in the second half, leading to a sharp drop of 388.70 points, closing at 23,616.05. The daily chart shows a strong bearish candlestick, suggesting the Index may test its previous support zone of 23,260-23,460. On the upside, resistance is seen at 23,900-24,200.
| Highest Call Writing at | 23,900 (1.3 Crore) |
| Highest Put Writing at | 23,260 (85.6 Lakhs) |
Nifty Support and Resistance
| Support | 23,260-23,460 |
| Resistance | 23,900-24,200 |
Bank Nifty Daily Chart Prediction
Prediction For Tuesday, Bank NIFTY can go up if it goes above 51,000 or down after the level of 49,900, but it all depends upon the Global cues.
Bank Nifty continued its negative trend today, impacted by concerns over the new virus. Traders can consider initiating a long position with a stop-loss set at 49,900 on a daily closing basis. Immediate support levels are at 49,900 and 50,500, which should provide stability against further declines. On the upside, resistance is seen at 51,000 and 51,500, marking potential breakout zones. Traders should keep a close watch on these levels for significant price action to strategically plan their entries and exits.
| Highest Call Writing at | 51,000 (34.0 Lakh) |
| Highest Put Writing at | 49,900 (49.5 Lakh) |
Bank Nifty Support and Resistance
| Support | 49,900 and 50,500 |
| Resistance | 51,000 and 51,500 |
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