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In today’s stock market, Nifty Index slips below 24,400 and Sensex sheds 756 points as the 3-day rally comes to an end.
Top Nifty Index gainers: Tata Consumer Products, Hindustan Unilever, Tata Motors Passenger Vehicles, NTPC.
Top Nifty Index Losers : HCL Technologies, Tech Mahindra, Infosys, TCS, M&M
| STOCK | Good Above | Weak Below |
| COCHINSHIP | 1590 | 1575 |
| EXIDEIND | 356 | 352 |
| FORTIS | 928 | 918 |
| NAM-INDIA | 1065 | 1055 |
Prediction for Thursday NIFTY can go up if it goes above 24,600 or down after the level of 24,200, but it also depends upon the Global cues.
Nifty Index is currently showing mild weakness after a recent recovery, and notably, it is hovering near the immediate support zone of 24,400–24,200, which is a crucial area for short-term direction. Moreover, if the index manages to hold above this support range, then a bounce-back move can be expected. However, if it slips below 24,200, then selling pressure may increase further. On the upside, meanwhile, the resistance zone of 24,600–25,000 will act as a key hurdle, and therefore, a sustained move above 24,600 could trigger fresh bullish momentum. Consequently, traders should stay cautious, and at the same time, closely watch price action near these levels for confirmation.
| Highest Call Writing at | 24,600 (1.0 Cr) |
| Highest Put Writing at | 24,200 (80.7 Lk) |
Nifty Index Support and Resistance
| Support | 24,200–24,400 |
| Resistance | 24,600–25,000 |
Prediction For Thursday BANKNIFTY can go up if it goes above 57,600 or down after the level of 56,400, but it also depends upon the Global cues.
Bank Nifty Index Index is currently showing signs of consolidation after a recent recovery, and notably, it is hovering near the immediate support of 56,400, which is a crucial short-term level. Moreover, if the index manages to hold above 56,400, then it may attempt a gradual move higher. However, the next important support lies at 55,000, and therefore, any breakdown below this level could invite fresh selling pressure. On the upside, meanwhile, the resistance zone of 57,600–59,000 will act as a key hurdle, and a sustained move above 57,600 could strengthen bullish momentum. Consequently, traders should remain cautious, and at the same time, watch price action closely around these levels for clearer direction.
Bank Nifty Index Index Support and Resistance
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