Today’s stock market session witnessed the Sensex decline by 160 points, with the Nifty Index slipping below the 23,650 mark. This market downturn was primarily influenced by rupee weakness and significant drag from the metal and PSU banking sectors.
Nifty Index Performance Snapshot
- Top Nifty Index Gainers: Tech Mahindra, Infosys, Dr Reddy’s Labs, Bharti Hexacom, CG Consumer
- Top Nifty Index Losers: Tata Steel, JSW Steel, LTIMindtree, Hudco
Nifty Index Support and Resistance Levels
| Level Type | Value |
|---|---|
| Support | 23,500 and 23,000 |
| Resistance | 24,000 – 24,500 |
Bank Nifty Index Index Outlook for Monday
Bank Nifty Index Index is projected to advance if it sustainably trades above 54,500, while a decline is anticipated if it falls below 53,500. Global cues will remain a critical determinant of its trajectory.
Throughout the session, Bank Nifty Index Index experienced sustained selling pressure at higher levels, with banking heavyweights contributing significantly to its volatility. The 53,500 level is expected to act as immediate support; a breach below this could see the index test 53,000. Conversely, the 54,500–55,000 range continues to present a robust resistance zone. Traders are advised to maintain caution and await a decisive breakout before committing to fresh directional positions.
Bank Nifty Index Index Option Chain Analysis: Key Levels
| Option Activity | Level and Volume |
|---|---|
| Highest Call Writing at | 54,500 (13.0 Lk) |
| Highest Put Writing at | 53,500 (9.7 Lk) |
Disclaimer : Equity & Trading is Subject to Market Risk. Kindly consult your Advisor Beofre taking Any Entries. Use our Contents for Educational Knowledge Development.
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