Nifty & Bank Nifty LIVE: Support and Resistance for 5 Feb 2024
Nifty and Bank Nifty Live at 11.15 am IST: Support and Resistance
Nifty Live at 11 a.m IST
The Nifty index is trading higher by 62 points or 0.29% at 21915 levels. The index made a high of 21964.30 and a day’s low of 21833.40, with a movement of 130.9 points till now. The Nifty Futures February series is trading at a 55-point premium at 21970 in comparison to the Nifty 50 spot price.
Today is the Nifty index option’s weekly expiry on the NSE. The Nifty weekly option chain data (8 Feb) showed that the Open Interest (OI) distribution for Nifty Put options is most notable at the 21900 and 21700 levels, indicating likely support for today. Meanwhile, on the Call side, significant Open Interest concentrations are identified at the 22000 strike prices, suggesting potential resistance levels for Nifty.
Bank Nifty Live at 11.10 a.m IST
The Bank Nifty index extended early losses and is trading volatile. The index is trading lower by 138 points or 0.30% at 45834 level. The index made a high of 46040.05, while hit a day’s low at 45615.10 so far on the spot price, with a movement of 424.95 points. The Bank Nifty Futures for the 25 February expiry is trading at a premium of 241 points at 46075 compared to the Bank Nifty spot price.
The Bank Nifty weekly option chain data (7 Feb) reveals that the Put options 45800 and 45500 hold the most substantial concentration. This level is likely to serve as a critical support zone for the day. Conversely, the Bank Nifty Call strike at 46000 and 46200 exhibits notable OI concentrations, signifying potential resistance levels for the day.
Nifty and Bank Nifty Live for 5 Feb 2024: Indian stock market indexes opened higher on Monday, despite negative cues from Asian markets, but immediately turned red as Banking and Financial indexes dragged down the equity benchmarks. However, Sensex and Nifty recovered after a few minutes and are trading volatile.
The Nifty today opened higher at 21921.05, up by 67.20 points, while the Sensex made a positive opening of 183.48 points at 72085.64 levels. The Bank Nifty index also opened edge lower by 8.7 points at 45962.25 levels.
Stock Market Live Updates Today at 10.05 am
The Indian stock market indexes are trading higher after initial volatility, Nifty is trading higher by 87 points or 0.37% at 21943, while Sensex is up by 228 points or 0.33% at 72310 The Bank Nifty is trading lower by 29 points or 0.05% at 45944.
Among the sectors, Auto, Pharma, and Realty sectors are trading as the top gainers, while Financial Services and Bank Nifty trading in the red.
The top-gaining stocks in the Nifty 50 index are Tata Motors, Bpcl, Cipla, SunPharma, and Coal India and the top losing stocks are UPL, Bharti Airtel, ICICI Bank, Kotak Bank, and HDFC Bank.
The most active stocks in NSE in terms of value are Tata Motors, HDFC Bank, and SBI, and in terms of volume are Tata Steel, Tata Motors, and SBI
Also, read Stock Market Prediction Next Week (5 – 9 Feb 2024) – Analysing the Trend
Options Trading Books: Your Ultimate 2023 Guide to Winning Big
Happy Investing!
Editor’s Desk
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