Stock Market Today, Nifty hit a new high while the Sensex increased by 74 points. Both the IT and pharma sectors posted gains.
Nifty Daily Chart.
The Sensex increased by 73.80 points, to 81,785.56, while the Nifty gained 34.50 points, reaching 25,052.30. Approximately 1,729 stocks rose, -2,049 fell, and 85 remained unchanged.
Top Nifty gainers: LTIMindtree, Wipro, Divis Labs, IndusInd Bank and Bharti Airtel,
Top Nifty Losers: Maruti Suzuki, Nestle India, Asian Paints, Adani Enterprises and Britannia Industries.
The IT, Pharma, and Healthcare sectors each gained over 1%, while the Telecom index rose by 0.5%. On the other hand, the Media index fell by 1.4%, and both the FMCG and PSU Bank sectors declined by 0.4%.
BSE midcap and smallcap index ended flat each.
Stock Prediction for 29th August 2024.
| STOCK | Good Above | Weak Below |
| BAJFINANCE | 6930 | 6850 |
| HDFCLIFE | 743 | 736 |
| PFC | 541 | 535 |
| UNITDSPR | 1458 | 1438 |
Forecast for Thursday: NIFTY may rise if it surpasses 25,100 or fall below 25,000, but this will largely depend on global market signals.
The Nifty reached a new peak of 25,130, continuing its upward trajectory. However, profit-taking in the last trading session caused the index to dip, ending at 25,052.35. Resistance is anticipated between 25,100 and 25,500, with support levels ranging from 25,000 to 24,800.
| Highest Call Writing at | 25,100 (88.8 Lakhs) |
| Highest Put Writing at | 25,000 (1.2 Crore) |
Nifty Support and Resistance
| Support | 25,000 and 24,800 |
| Resistance | 25,100 and 25,500 |
Bank Nifty Daily Chart.
Forecast for Thursday: BANKNIFTY may rise if it surpasses 51,400 or fall below 51,000, but this will largely depend on global market signals.
The Bank Nifty is displaying an upward trend. If you hold long positions, it’s recommended to maintain them with a daily closing stop loss set at 50,628. Currently, the Bank Nifty index stands at 51,115, marking a decline of 0.32%. Resistance is expected between 51,200 and 51,600, while support levels are identified between 51,100 and 50,800.
| Highest Call Writing at | 51,400 (1.1 Crore) |
| Highest Put Writing at | 51,000 (1.2 Crore) |
Bank Nifty Support and Resistance
| Support | 51,100 and 50,800 |
| Resistance | 51,200 and 51,600 |
