Nifty and Bank Nifty Support and Resistance Today, April 1, 2024
Nifty and Bank Nifty Support and Resistance Today, April 1, 2024: Indian stock market indexes opened higher on Monday amid positive global cues. The Nifty today opened higher at 22455, up by 128.1 points, while the Sensex opened a gap-up of 317.27 points at 73968.62 levels. The Bank Nifty index also opened higher by 266.45 points at 47391.05 levels.
Nifty and Bank Nifty Support and Resistance Today
Nifty Support and Resistance at 10.20 a.m IST
The Nifty 50 index hit a fresh new high today and extended early gains, trading higher by 183 points or 0.82% at 22509 levels. The index made a high of 22529.95 and a day’s low of 22443.35, with a movement of 86.6 points till now. The Nifty Futures April series is trading at a 118-points premium at 22627, compared to the Nifty 50 spot price.
The NSE weekly option chain data for 4 April showed that the Open Interest (OI) distribution for Nifty Put options is most notable at 22300, indicating likely support for today. Meanwhile, on the Call side, meaningful Open Interest concentrations are identified at the 22600 and 22700 strike prices, suggesting potential resistance levels for Nifty.
Nifty Prediction today by Prabhudas Lilladher- According to the reputed broking house, Nifty has support at 22155 levels and has resistance at 22507 and 22688 for the day.
Bank Nifty Support and Resistance at 10.25 a.m IST
The Bank Nifty index also extended its early gains and is trading higher, by 430 points or 0.91% at the 47560 level. The index made a high of 47642.15, while hit a day’s low at 47373.10 so far on the spot price, with a movement of 269.05 points. The Bank Nifty Futures for April series is trading at a premium of 330 points at 47890 compared to the Bank Nifty spot price.
Today the Bank Nifty NSE option chain data for 3 April reveals that the Put options 47500 and 47000 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 47600 and 48000 exhibits notable OI concentrations, signifying potential resistance levels for the day.
Bank Nifty Prediction Today by Prabhudas Lilladher- According to the top broking house, Bank Nifty has support at 46821 and resistance at 47744 for the day.
Also, read Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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.
