{"id":2499,"date":"2023-08-08T16:10:54","date_gmt":"2023-08-08T10:40:54","guid":{"rendered":"https:\/\/www.spidersoftwareindia.com\/blog\/?p=2499"},"modified":"2023-08-08T16:11:01","modified_gmt":"2023-08-08T10:41:01","slug":"in-stock-market-today-sensex-and-nifty-ended-marginally-lower-psu-bank-shines","status":"publish","type":"post","link":"https:\/\/www.spidersoftwareindia.com\/blog\/in-stock-market-today-sensex-and-nifty-ended-marginally-lower-psu-bank-shines\/","title":{"rendered":"Stock Market Prediction for Nifty &amp; Bank Nifty 09 Aug 2023"},"content":{"rendered":"\n<p>In Stock market today Sensex and Nifty ended marginally lower; PSU Bank shines<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Stock Market Nifty Chart Prediction.<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"819\" src=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.53-PM-1024x819.jpeg\" alt=\"\" class=\"wp-image-2500\" srcset=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.53-PM-1024x819.jpeg 1024w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.53-PM-300x240.jpeg 300w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.53-PM-768x614.jpeg 768w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.53-PM.jpeg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p>Certainly, it appears that the Nifty opened with a positive outlook but was unable to sustain the gains throughout the day. It eventually slipped into negative territory and closed lower. Analyzing the daily charts, it&#8217;s evident that the Nifty has undergone a counter-trend pullback over the past three trading sessions. During this period, it encountered resistance around the 20-day moving average, which was at 19,645, and the 61.82% Fibonacci retracement level of the fall from 19,795 to 19,296, which was at 19,605.<\/p>\n\n\n\n<p>Furthermore, technical indicators provide additional insight into the market&#8217;s direction. The hourly momentum indicator has signaled a negative crossover, typically interpreted as a sell signal. The daily momentum indicator was already in the sell mode, further confirming a bearish outlook for the index. Given these observations, the analyst maintains a negative stance on the Nifty&#8217;s performance. The short-term target for the Nifty is anticipated to be around the 19,100 level.<\/p>\n\n\n\n<p>Turning to the Bank Nifty, it closed in positive territory but was unable to surpass the 40-hour moving average. This suggests the presence of selling pressure in the market. The Bank Nifty&#8217;s trading range for the day remained within the boundaries established during the previous trading session, spanning from 44,520 to 45,120.<\/p>\n\n\n\n<p>As long as the Bank Nifty remains within this range without breaching its extremes, the analyst expects the consolidation to persist. The daily momentum indicator has signaled a negative crossover, aligning with a sell signal. Therefore, the current pullback in the Bank Nifty is being viewed as an opportunity to sell. From a short-term perspective, the analyst anticipates a downside target of around 44,000.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Prediction For Wednesday\u00a0NIFTY can open Flat but all depend upon the Global cues.<\/h2>\n\n\n\n<p>There are good chances of flat opening for Wednesday\u00a0as NIFTY is near its important level of 19600.Today also nifty has closed flat to slight negative. After giving flat opening, it may move to the level of 19700 on upside or 19500 on downside. But all these aspects depend upon the Global cues.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Highest Call Writing at<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>19600 (69.8 LK)<\/strong><br><strong>                      20000 (97 LK)                     <\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Highest Put Writing at<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>19500 ( 59.6 LK)<\/strong><br>        <strong>             19400 (71.5 LK)              <\/strong>            <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Nifty Support and Resistance<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Support<\/strong> <\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>19550,19500<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Resistance<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>19650,19700<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Bank Nifty Daily Chart Prediction<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"819\" src=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.35-PM-1024x819.jpeg\" alt=\"\" class=\"wp-image-2501\" srcset=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.35-PM-1024x819.jpeg 1024w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.35-PM-300x240.jpeg 300w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.35-PM-768x614.jpeg 768w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-08-08-at-3.54.35-PM.jpeg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Prediction For Wednesday Bank\u00a0NIFTY can open Flat but all depend upon the Global cues.<\/h2>\n\n\n\n<p>Today, BANK NIFTY was strong today as compared to nifty it was in range for hole day with more volatility. Today bank nifty has closed in green near its critical level of 45000 which has made bank nifty uncertain again it will be interesting to see where bank nifty goes can it give upward breakout or downward breakdown.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Highest Call Writing at<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>45000 (60.9 LK)<br>47000 (31.3 LK)<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Highest Put Writing at<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>45000 ( 42 LK)<br> 43000 ( 32.7 LK )<\/strong><\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"> <\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Bank Nifty Support and Resistance<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Support<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>44900,44800<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Resistance<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>45000,45100<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><br>If you&#8217;d like to know how do we analyze the market and provide accurate levels every day. then click on the <a href=\"https:\/\/spidersoftwareindia.com\/contact-us.php\">Free Demo<\/a> button below and change your trading life for good. 5X returns is possible in options trading, If you have Spider Software in your trading system. <\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/spidersoftwareindia.com\/contact-us.php\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Free Demo<\/strong><\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-vivid-green-cyan-color has-text-color wp-element-button\" href=\"https:\/\/rzp.io\/l\/b8kiANSCW\" target=\"_blank\" rel=\"noreferrer noopener\">Buy Now<\/a><\/div>\n<\/div>\n\n\n\n<p>Also, Check out our article on <a href=\"https:\/\/www.spidersoftwareindia.com\/blog\/here-benefits-of-trading-in-bse-futures-and-options-as-compared-to-nse-also-what-are-future-and-option-in-bse\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Why should you trade in BSE Options?<\/strong><\/a><\/p>\n\n\n\n<pre class=\"wp-block-code has-small-font-size\"><code>Disclaimer: The information provided in this Blog is for educational purposes only and should not be construed as financial advice. Trading in the stock market involves a significant level of risk and can result in both profits and losses. Spider Software &amp; Team does not guarantee any specific outcome or profit from the use of the information provided in this Blog. It is the sole responsibility of the viewer to evaluate their own financial situation and to make their own decisions regarding any investments or trading strategies based on their individual financial goals, risk tolerance, and investment objectives. Spider Software &amp; Team shall not be liable for any loss or damage, including without limitation any indirect, special, incidental or consequential loss or damage, arising from or in connection with the use of this blog or any information contained herein.<\/code><\/pre>\n<div class=\"pvc_clear\"><\/div><p id=\"pvc_stats_2499\" class=\"pvc_stats all  \" data-element-id=\"2499\" style=\"\"><i class=\"pvc-stats-icon large\" aria-hidden=\"true\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\" class=\"svg-inline--fa fa-chart-bar fa-w-16 fa-2x\"><path fill=\"currentColor\" d=\"M396.8 352h22.4c6.4 0 12.8-6.4 12.8-12.8V108.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v230.4c0 6.4 6.4 12.8 12.8 12.8zm-192 0h22.4c6.4 0 12.8-6.4 12.8-12.8V140.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v198.4c0 6.4 6.4 12.8 12.8 12.8zm96 0h22.4c6.4 0 12.8-6.4 12.8-12.8V204.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v134.4c0 6.4 6.4 12.8 12.8 12.8zM496 400H48V80c0-8.84-7.16-16-16-16H16C7.16 64 0 71.16 0 80v336c0 17.67 14.33 32 32 32h464c8.84 0 16-7.16 16-16v-16c0-8.84-7.16-16-16-16zm-387.2-48h22.4c6.4 0 12.8-6.4 12.8-12.8v-70.4c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v70.4c0 6.4 6.4 12.8 12.8 12.8z\" class=\"\"><\/path><\/svg><\/i> <img loading=\"lazy\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif\" border=0 \/><\/p><div class=\"pvc_clear\"><\/div>","protected":false},"excerpt":{"rendered":"<p>In Stock market today Sensex and Nifty ended marginally lower; PSU Bank shines<\/p>\n<div class=\"pvc_clear\"><\/div>\n<p id=\"pvc_stats_2499\" class=\"pvc_stats all  \" data-element-id=\"2499\" style=\"\"><i class=\"pvc-stats-icon large\" aria-hidden=\"true\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\" class=\"svg-inline--fa fa-chart-bar fa-w-16 fa-2x\"><path fill=\"currentColor\" d=\"M396.8 352h22.4c6.4 0 12.8-6.4 12.8-12.8V108.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v230.4c0 6.4 6.4 12.8 12.8 12.8zm-192 0h22.4c6.4 0 12.8-6.4 12.8-12.8V140.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v198.4c0 6.4 6.4 12.8 12.8 12.8zm96 0h22.4c6.4 0 12.8-6.4 12.8-12.8V204.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v134.4c0 6.4 6.4 12.8 12.8 12.8zM496 400H48V80c0-8.84-7.16-16-16-16H16C7.16 64 0 71.16 0 80v336c0 17.67 14.33 32 32 32h464c8.84 0 16-7.16 16-16v-16c0-8.84-7.16-16-16-16zm-387.2-48h22.4c6.4 0 12.8-6.4 12.8-12.8v-70.4c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v70.4c0 6.4 6.4 12.8 12.8 12.8z\" class=\"\"><\/path><\/svg><\/i> <img loading=\"lazy\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif\" border=0 \/><\/p>\n<div class=\"pvc_clear\"><\/div>\n","protected":false},"author":1,"featured_media":2502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,11],"tags":[26,22,5,30,21,25,9,10,7,8],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock Market Prediction for Nifty &amp; 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