Stock Market Today, Sensex Climbs 350 Points, Nifty Approaches 24,950; FMCG and Banking Stocks Advance, Oil & Gas Sector Trails

Nifty Daily Chart.

The Sensex surged by 375.61 points to reach 81,559.54, while the Nifty climbed 84.20 points, ending at 24,936.40. Out of the stocks, approximately 1,576 saw gains, -2,300 declined, and 130 remained unchanged.

The BSE Smallcap index finished higher, whereas the Midcap index saw a slight decline.

Stock Prediction for 10th September 2024

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Prediction for Tuesday: NIFTY may rise if it surpasses 25,000 or fall below 24,800, but this will largely depend on global market signals.

On Sept 09, Nifty had a flat start but, following some initial volatility, it stabilized and finished the day up by about 80 points. According to the daily charts, the Nifty tested and held its support range of 24,800 – 24,500. The day’s low of 24,753 should act as a stop-loss for long positions, with a drop below this level potentially indicating a short-term trend reversal. On the upside, immediate resistance is expected between 25,000 and 25,500.

Nifty Support and Resistance

Bank Nifty Daily Chart.

Prediction for Tuesday: BANKNIFTY may rise if it surpasses 51,300 or fall below 50,500, but this will largely depend on global market signals.

On Sept 09, Bank Nifty experienced a robust rebound from its intraday lows, regaining much of the losses from the previous session. This V-shaped recovery suggests strong buying interest at lower levels. Support for Bank Nifty is identified between 50,500 and 50,000, while resistance is expected to be between 51,300 and 51,500.

Bank Nifty Support and Resistance