Sensex, Nifty, and Bank Nifty Prediction Today, 12 April 2024
Sensex, Nifty, and Bank Nifty Prediction Today, 12 April 2024: Indian stock market indexes opened lower on Friday, as domestic investors reacted negatively after hotter-than-expected US inflation data released on Wednesday. The Nifty opened lower at 22677.40, down by 76.4 points, while the Sensex made a negative opening of 148.51 points, at 74889.64. The Bank Nifty index also opened lower at 315.4 points at 48671.20 levels.
Sensex, Nifty, and Bank Nifty Prediction Today
Nifty Support and Resistance at 10.45 a.m IST
The Nifty index extended early losses and traded lower by 100 points or 0.44% at 22654 levels. The index made a high of 22726.45 and a day’s low of 22624.85, with a movement of 101.6 points till now. The Nifty Futures April series is trading at a 58.3-points premium at 22712.20, 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 22600 and 22500, indicating likely support for today. Meanwhile, on the Call side, meaningful Open Interest concentrations are identified at the 22700 and 22800 strike prices, suggesting potential resistance levels for Nifty.
Nifty Prediction today by Prabhudas Lilladher– According to the reputed broking house, Nifty has support at 22693 and 22632 levels and has resistance at 22795 and 22836 levels for the day.
Bank Nifty Support and Resistance at 10.55 a.m IST
The Bank Nifty index also traded lower by 316 points or 0.65% at 48670 level. The index made a high of 48882.65 while hitting a day’s low at 48597.65 so far on the spot price, with a movement of 285 points. The Bank Nifty Futures for April series is trading at a premium of 87 points at 48757 compared to the Bank Nifty spot price.
Today the Bank Nifty NSE option chain data for 16 April reveals that the Put options 48500 and 48000 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 48800 and 49000 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 48751 and 48516 and resistance at 49140 and 49293 for the day.
BSE Sensex Support and Resistance at 11 am IST
BSE Sensex opened lower and extended early losses. Sensex is trading lower by 338 points or 0.45% at 74678 levels. The index made a high of 74951.89 and a day’s low of 74539.10, with a movement of 412.79 points till now.
Today is Sensex weekly options expiry, the BSE Sensex weekly option chain data (12 April ) reveals that the Put options 74500 and 74200 hold the most substantial concentration. This level is likely to serve as a critical support zone for the day. Conversely, today’s BSE Sensex Call strikes at 74800 and 75000 and exhibits notable OI concentrations, signifying potential resistance levels for the day.
BSE Sensex Prediction Today by Prabhudas Lilladher– According to the top broking house, today’s BSE Sensex has support at 74862 and 74686 levels while it has resistance at 75160 and 75281 for the day.
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