14th May 2024 | Nifty may look good above 22200 | Weak below 21800

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NIFTY Prediction

For the second consecutive day, the Nifty maintained its upward momentum, closing 114 points higher. A bullish candle has formed, and on the intraday charts, it is exhibiting a higher bottom formation, indicating a generally positive trend. We believe that the index has finished one phase of its pullback rally, with the 22,300-22,500 range serving as key resistance and the 22,000-21,700 range acting as key support.

BANK NIFTY Prediction

Bank Nifty, which appreciated by 0.7 percent yesterday, opened almost unchanged today at 47,749, compared to the previous close of 47,754. It has since dipped slightly and is currently hovering around 47,700. The resistance levels are between 48,000 and 48,300, while support levels are between 47,000 and 46,500.

Breakout Stock for Today (Future, Option & Swing Trading)

Sr.	Stock Name	Symbol	Links	% Chg	Price	Volume
1	National Aluminium Company Limited	NATIONALUM	P&F | F.A	7.29%	189.85	31,279,139
2	Adani Enterprises Limited	ADANIENT	P&F | F.A	5.49%	3037.55	5,725,807
3	Idea Cellular Limited	IDEA	P&F | F.A	5.16%	13.25	745,058,401
4	Steel Authority Of India Limited	SAIL	P&F | F.A	4.84%	164.65	39,072,871
5	Vedanta Limited	VEDL	P&F | F.A	4.47%	432.55	22,195,946
6	Acc Limited	ACC	P&F | F.A	4.22%	2463.5	747,111
7	Jindal Steel & Power Limited	JINDALSTEL	P&F | F.A	4.15%	978.45	6,840,175

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