{"id":6273,"date":"2024-10-07T17:37:42","date_gmt":"2024-10-07T12:07:42","guid":{"rendered":"https:\/\/www.spidersoftwareindia.com\/blog\/?p=6273"},"modified":"2024-10-08T10:37:50","modified_gmt":"2024-10-08T05:07:50","slug":"stock-market-prediction-for-nifty-bank-nifty-08th-oct-2024","status":"publish","type":"post","link":"https:\/\/www.spidersoftwareindia.com\/blog\/stock-market-prediction-for-nifty-bank-nifty-08th-oct-2024\/","title":{"rendered":"Stock Market Prediction for Nifty &amp; Bank Nifty 08th Oct 2024."},"content":{"rendered":"\n<p>In the stock market today, Nifty falls below 24,900, while the Sensex drops by 580 points; IT sector emerges as the top performer.<\/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 is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"366\" src=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153253-1024x366.png\" alt=\"\" class=\"wp-image-6279\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153253-1024x366.png 1024w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153253-300x107.png 300w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153253-768x274.png 768w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153253-1536x549.png 1536w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153253.png 1906w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"372\" src=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153325-1024x372.png\" alt=\"The image displays Intraday version of the Nifty Stock Market chart, used for predicting on Oct 08, 2024\" class=\"wp-image-6280\" srcset=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153325-1024x372.png 1024w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153325-300x109.png 300w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153325-768x279.png 768w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153325-1536x558.png 1536w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153325.png 1903w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>Zoomed Nifty Chart in Intraday Time Frame.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>On October 07, <\/strong>The Sensex dropped by <strong>638.45 <\/strong>points, to <strong>81,050.00<\/strong>, while the Nifty declined by <strong>218.80 <\/strong>points, or to <strong>24,795.80<\/strong>. In the market, <strong>597 <\/strong>shares gained, <strong>-3,289<\/strong> shares fell, and <strong>117 <\/strong>remained unchanged.<\/p>\n\n\n\n<p>Top Nifty gainers:<strong> ITC, Bharti Airtel, Trent, M&amp;M and Infosys<\/strong>,<br>Top Nifty Losers: <strong>&nbsp;&nbsp;NTPC, Adani Ports, Adani Enterprises, SBI, Coal India<\/strong>.<\/p>\n\n\n\n<p>All sectoral indices closed in negative territory, except for IT, which rose by 0.6 percent. PSU banks, healthcare, capital goods, realty, metals, power, oil &amp; gas, media, and telecom sectors saw declines ranging from 1% to 3%<\/p>\n\n\n\n<p><strong>BSE Midcap<\/strong> index down <strong>2%<\/strong> and <strong>Smallcap <\/strong>index down over <strong>3%<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Stock Prediction for 08th Oct 2024<div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div>.<\/h2>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-black-color has-luminous-vivid-orange-to-vivid-red-gradient-background has-text-color has-background has-link-color\"><tbody><tr><td><span style=\"text-decoration: underline;\">STOCK<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"text-decoration: underline;\">Good Above<\/span><\/td><td class=\"has-text-align-center\" data-align=\"center\"><span style=\"text-decoration: underline;\">Weak Below<\/span><\/td><\/tr><tr><td><strong>AUBANK<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>736<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>729<\/strong><\/td><\/tr><tr><td><strong><strong>LTIM<\/strong><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>6280<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>6220<\/strong><\/td><\/tr><tr><td><strong>M&amp;M<\/strong><div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>3080<\/strong><div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>3026<\/strong><\/td><\/tr><tr><td><strong>SUNPHARMA<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>1914<\/strong><\/strong><div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>1892<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Prediction For Tuesday, <strong>NIFTY<\/strong> can go <strong>up<\/strong> if it goes above 25,100 or <strong>down<\/strong> after the level of 24,700,&nbsp;but it all depends upon the <strong>Global cues<\/strong>.<\/h2>\n<\/div><\/div>\n\n\n\n<p>The benchmark indices extended their weak trend as the Nifty dropped 218 points amid ongoing geopolitical tensions, causing Nifty50 to lose the key psychological level of 25,000. In the previous session, there was a sharp rebound in the banking sector, but it quickly lost momentum, pulling the index down to close at 24,795.75. On the upside, resistance is expected between 25,100 and 25,300, while support on the downside lies around 24,700-24,600.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Highest Call Writing at<div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>25,100 (1.0 Crore)<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Highest Put Writing at<div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>24,700<\/strong> <strong>(55.4 Lakh)<\/strong><div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/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 class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Support <\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>24,700 to 24,600<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Resistance<div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>25,100 to 25,300<\/strong><div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/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<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"367\" src=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153445-1024x367.png\" alt=\"The picture is of the Bank Nifty Stock Market chart in the daily time frame, through which it will be used to predict the market on Oct 08, 2024.\" class=\"wp-image-6281\" srcset=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153445-1024x367.png 1024w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153445-300x107.png 300w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153445-768x275.png 768w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153445-1536x550.png 1536w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153445.png 1902w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"372\" src=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153342-1024x372.png\" alt=\"The image displays Intraday version of the Bank Nifty Stock Market chart, used for predicting on Oct 08, 2024\" class=\"wp-image-6282\" srcset=\"https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153342-1024x372.png 1024w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153342-300x109.png 300w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153342-768x279.png 768w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153342-1536x557.png 1536w, https:\/\/www.spidersoftwareindia.com\/blog\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-07-153342.png 1899w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading\">Prediction For Tuesday, <strong>Bank NIFTY<\/strong> can go <strong>up<\/strong> if it goes above <strong>51,800 <\/strong>or <strong>down<\/strong> after the level of <strong>50,000, <\/strong>but it all depends upon the <strong>Global cues<\/strong>.<\/h2>\n\n\n\n<p>Bank Nifty is presently in a bearish trend. If you have short positions, it is advisable to maintain them with a daily closing stop loss at 51,760. On the upside, resistance is seen in the 51,800-52,400 range, while support on the downside is between 50,000 and 49,200.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Highest Call Writing at<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>51,800 <\/strong>(36.4 Lakhs)<\/strong><div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Highest Put Writing at<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong> 50,000<\/strong> <strong>(16.2 Lakhs)<\/strong><div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><\/tr><\/tbody><\/table><\/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 class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Support<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>50,000 and 49,200<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Resistance<div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>51,800 and 52,400 <\/strong><div id=\"input_addon_container\" style=\"position: absolute; top: 0px; left: 0px; pointer-events: none;\"><\/div><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Power of Algorithms in Options Trading, Try Spider Now: <a href=\"https:\/\/bit.ly\/3xWmewB\">Register Now<\/a><\/p>\n\n\n\n<p>If you&#8217;d like to know how we analyze the market and provide accurate levels every day. then click on the Free Demo button below and change your trading life for good. 5X returns are 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<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\n\n\n<p><\/p>\n<div class=\"pvc_clear\"><\/div><p id=\"pvc_stats_6273\" class=\"pvc_stats all  \" data-element-id=\"6273\" 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 the stock market today, Nifty falls below 24,900, while the Sensex drops by 580 points; IT sector emerges as the top performer.<\/p>\n<div class=\"pvc_clear\"><\/div>\n<p id=\"pvc_stats_6273\" class=\"pvc_stats all  \" data-element-id=\"6273\" 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":6284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,1],"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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