Finnifty,Nifty, and Bank Nifty Prediction Today, 23 April 2024
Finnifty, Nifty, and Bank Nifty Prediction Today, 23 April 2024: Indian stock market indexes opened higher on Tuesday amid positive global cues. The market sentiments turned positive due to ease in geopolitical tension. Asian markets are trading higher and supporting the domestic markets, Hang Seng, Straits Times, and Taiwan are gaining more than 1% presently.
Nifty and Bank Nifty Prediction Today
Nifty Support and Resistance at 11.25 a.m IST
The Nifty index trimmed some early gains and traded higher by 59 points or 0.27% at 22395.80 levels. The index made a high of 22447.55 and a day’s low of 22355.85, with a movement of 91.7 points till now. The Nifty Futures April series is trading at a 12-points discount at 22383, 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 22300 and 22200, indicating likely support for today. Meanwhile, on the Call side, meaningful Open Interest concentrations are identified at the 22400 and 22500 strike prices, suggesting potential resistance levels for Nifty.
Nifty Prediction today by Prabhudas Lilladher– According to the reputed broking house, Nifty has support at 22231 levels and has resistance at 22481 levels for the day.
Bank Nifty Support and Resistance at 11.30 a.m IST
The Bank Nifty index also pared some early gains and currently trading higher by 84.25 points or 0.18% at 48009.15 level. The index made a high of 48302.70, while hit a day’s low at 47937.45 so far on the spot price, with a movement of 365.25 points. The Bank Nifty Futures for April series is trading at a discount of 15.85 points at 48025 compared to the Bank Nifty spot price.
Today the Bank Nifty NSE option chain data for 24 April reveals that the Put options 47800 and 47500 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 48100 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 47653 and resistance at 48171 and 48418 for the day.
Finnifty Support and Resistance at 11.40 a.m IST
The Finnifty index opened higher by 149.5 points at 21476 on Tuesday. Currently, the Finnifty index is trading higher by 80 points or 0.38% at 21353.65 level. The Finnifty index made a high of 21477.25 and hit the day’s low at 21320.90 so far on the spot level.
Today is the Finnifty expiry for weekly options, it has strong resistance at the 21400 and 21500 levels, and breaching the said level could move higher. Whereas, Finnifty option chain data reveals that the Put options 21300 and 21200 hold the most substantial concentration, and could support the day.
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Happy Investing!
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