In today’s stock market, Nifty ended at 23,675, while the Sensex closed at 78,148, with both indices finishing flat after a sharp recovery.
Stock Market Nifty Chart Prediction
On January 8, Sensex was down 50.62 points at 78,148.49, and the Nifty was down 18.95 points at 23,688.95. About 1,336 shares advanced, 2,466 shares declined, and 96 shares remained unchanged.
Top Nifty gainers: ONGC, ITC, Reliance Industries, TCS, Asian Paints
Top Nifty Losers: Apollo Hospitals, Trent, Bajaj Auto, Adani Ports, Shriram Finance.
On the sectoral front, FMCG, oil & gas, and IT stocks gained 0.3-1.5 percent, while PSU banks, pharma, metals, media, banks, and auto stocks lost 0.4-1 percent.
BSE Midcap and Smallcap indices shed 1 percent each.
Stock Prediction for 9th Jan 2025
| STOCK | Good Above | Weak Below |
| BAJAJFINSV | 1701 | 1681 |
| DRREDDY | 1380 | 1365 |
| RELIANCE | 1270 | 1258 |
| TCS | 4110 | 4064 |
Prediction for Thursday NIFTY can go up if it goes above 23,670 or down after the level of 23,800, but it all depends upon the Global cues.
Nifty made a strong recovery from the lows on Wednesday, following a sharp decline in the early to mid part of the session. A small red candle with a long lower shadow appeared on the daily chart, forming a ‘hammer’ pattern. Typically, a hammer pattern after a significant decline suggests a potential trend reversal to the upside, provided it is confirmed. The support zone is between 23,670 and 23,500, while resistance is expected around 23,800 to 24,000.
| Highest Call Writing at | 23,670 (1.4 Crore) |
| Highest Put Writing at | 23,800 (93.8 Lakh) |
Nifty Support and Resistance
| Support | 23,670 to 23,500 |
| Resistance | 23,800 to 24,000 |
Bank Nifty Daily Chart Prediction
Prediction For Thursday, Bank NIFTY can go up if it goes above 50,500 or down after the level of 49,500, but it all depends upon the Global cues.
Bank Nifty continued its positve trend today, impacted by concerns over the new virus. Traders can consider initiating a long position with a stop-loss set at 49,832 on a daily closing basis. Immediate support levels are at 49,500 and 49,000, which should provide stability against further declines. On the upside, resistance is seen at 50,500 and 50,750, 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 | 50,500 (48.6 Lakh) |
| Highest Put Writing at | 49,500 (49.5 Lakh) |
Bank Nifty Support and Resistance
| Support | 49,500 and 49,000 |
| Resistance | 50,500 and 50,750 |
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