Nifty and Bank Nifty Prediction Today, 15 April 2024
Nifty and Bank Nifty Prediction Today, 15 April 2024: Indian stock market indexes opened sharply lower on Monday, amid geopolitical tension between Israel and Iran. The Nifty opened lower at 22339.05, down by 180.35 points, while the Sensex made a gap-down opening of 929.74 points, at 73315.16. The Bank Nifty index also opened lower at 507.05 points at 48057.50 levels.
Nifty and Bank Nifty Prediction Today
Nifty Support and Resistance at 9.55 a.m IST
The Nifty index extended early losses and is trading lower, by 204 points or 0.91% at 22314 levels. The index made a high of 22373.55 and a day’s low of 22263.55, with a movement of 110 points till now. The Nifty Futures April series is trading at a 140-points premium at 22454, compared to the Nifty 50 spot price.
The NSE weekly option chain data for 18 April showed that the Open Interest (OI) distribution for Nifty Put options is most notable at 22200 and 22000, 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 22300 and 22000 levels and has resistance at 22500 and 22600 levels for the day.
Bank Nifty Support and Resistance at 10 a.m IST
The Bank Nifty index also extended early losses and is trading lower, by 567 points or 1.17% at the 47997 level. The index made a high of 48255.50 while hitting a day’s low at 47904.95, so far on the spot price, with a movement of 350.55 points. The Bank Nifty Futures for April series is trading at a premium of 175 points at 48172 compared to the Bank Nifty spot price.
Today the Bank Nifty NSE option chain data for 16 April reveals that the Put options 47900 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 48200 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 47800 and resistance at 48806 for the day.
Also, read Stock Market Prediction Next Week (15 – 19 April 2024)
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