10th May 2024 | Nifty may look good above 22500 | Weak below 21900

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NIFTY Prediction

Nifty witnessed a sharp selloff, ending 345 points lower. The formation of a long bearish candle suggests potential further weakness, though a technical rebound may occur from current levels. Resistance is expected at 22100-22150, with support seen at 21950-21900.

BANK NIFTY Prediction

Bank Nifty index remains under bearish pressure, with the next immediate support level at 47,400. A breach below this level could escalate selling pressure towards the 47,000 mark. The index encounters immediate resistance at 48,000, where there is notable call writing activity. A decisive breakthrough above this resistance level might prompt short-covering moves towards the 48,500 mark.

Stock Prediction

STOCK Good Above Weak Below
AUBANK
 
 631 625
ESCORTS 3481 3451
GODREJCP
 
 1351
 
 1332
INFY
 
 1444
 
 1425
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