Market Live: Nifty and Bank Nifty Prediction Today, 18 April 2024
Nifty and Bank Nifty Prediction Today, 18 April 2024: Indian stock market indexes opened higher on Thursday, as Asian markets erased early losses and turned positive. However, markets trimmed some intraday gains and are trading positively.
Nifty and Bank Nifty Prediction Today
Nifty Support and Resistance at 10.30 a.m IST
The Nifty index trimmed early gain and is trading marginally higher, by 30 points or 0.13% at 22176 levels. The index made a high of 22270.65 and a day’s low of 22153.80, with a movement of 116.85 points till now. The Nifty Futures April series is trading at a 22-point premium at 22198, compared to the Nifty 50 spot price.
Today is the Nifty weekly options expiry. The NSE weekly option chain data for 18 April showed that the Open Interest (OI) distribution for Nifty Put options is most notable at 22100 and 22000, indicating likely support for today. Meanwhile, on the Call side, meaningful Open Interest concentrations are identified at the 22250 and 22300 strike prices, suggesting potential resistance levels for Nifty.
Nifty Prediction today by Prabhudas Lilladher– According to the reputed broking house, Nifty has support at 22080 and 22013 levels and has resistance at 22215 and 22281 levels for the day.
Bank Nifty Support and Resistance at 10.40 a.m IST
The Bank Nifty index also pared some early gains and is trading higher, by 102 points or 0.21% at the 47586 level. The index made a high of 47829.75 while hitting a day’s low at 47465.30, so far on the spot price, with a movement of 364.45 points. The Bank Nifty Futures for April series is trading at a premium of 95 points at 47681 compared to the Bank Nifty spot price.
Today the Bank Nifty NSE option chain data for 24 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. The Bank Nifty Call strike at 48000 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 47331 and 47178 and resistance at 47624 and 47763 for the day.
Also, read Stock Market Prediction Next Week (15 – 19 April 2024)
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