Nifty and Bank Nifty Prediction Today, 24 April 2024
Nifty and Bank Nifty Prediction Today, 24 April 2024: Indian stock market indexes opened higher on Wednesday, following gains from global markets. The market sentiments are positive as investors are optimistic about the corporate earnings of US technology giants lined up during the week. Asian markets are trading higher following gains from Wall Street overnight, Taiwan and Nikkei 225 are gaining the most in the region.
Nifty and Bank Nifty Prediction Today
Nifty Support and Resistance at 11.15 a.m IST
The Nifty index extended its early gains and is trading strongly, surging 91 points or 0.40% at 22460 levels. The index made a high of 22476.45 and a day’s low of 22399.85, with a movement of 76.6 points till now. The Nifty Futures April series is trading at a 5-point premium at 22465, compared to the Nifty 50 spot price.
The NSE weekly option chain data for 25 April showed that the Open Interest (OI) distribution for Nifty Put options is most notable at 22400 and 22300, indicating likely support for today. Meanwhile, on the Call side, meaningful Open Interest concentrations are identified at the 22500 and 22600 strike prices, suggesting potential resistance levels for Nifty.
Nifty Prediction today by Prabhudas Lilladher– According to the reputed broking house, Nifty has support at 22299 levels and has resistance at 22425 and 22500 levels for the day.
Bank Nifty Support and Resistance at 11.20 a.m IST
The Bank Nifty index also extended its early gains and is trading higher, by 218 points or 0.46% at the 48188 level. The index made a high of 48235.20, while hit a day’s low at 48028.70 so far on the spot price, with a movement of 207.2 points. The Bank Nifty Futures for April series is trading at a discount of 33 points at 48155 compared to the Bank Nifty spot price.
Today is the Bank Nifty monthly F&O expiry. The Bank Nifty NSE option chain data for 24 April reveals that the Put options 48000 hold the most substantial concentration. This level will likely serve as a critical support zone for the day. Conversely, the Bank Nifty Call strike at 48300 and 48500 exhibits notable OI concentrations, signifying potential resistance levels.
Bank Nifty Prediction Today by Prabhudas Lilladher– According to the top broking house, Bank Nifty has support at 47812 and 47652 levels and resistance at 48216 and 48461 for the day.
Also, read Stock Market Prediction Next Week (15 – 19 April 2024)
Options Trading Books: Your Ultimate 2023 Guide to Winning Big
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution in compiling the data for its Website. The views and investment tips expressed here are by third-party experts and are for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before making any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
