23rd August 2024 | Nifty Volatile Possible - Keep Quiet

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NIFTY Prediction

Nifty started the day flat and consolidated throughout, finishing with a gain of around 41 points. The hourly momentum indicator shows a negative crossover and divergence, suggesting the possibility of an intraday dip, so caution is advised on long positions. Nifty is nearing the 24,830 mark, which could limit further upward movement. The overall trend remains sideways, with a consolidation range between 24,200 and 24,900. Resistance is seen at 24,850-24,950, while support lies between 24,800 and 24,600.

BANK NIFTY Prediction

Bank Nifty continued the positive momentum that began in the latter half of the previous trading session. After a period of underperformance, Bank Nifty is now poised for an upward move toward the 51,500 – 51,900 range from a short-term perspective. Long positions should maintain a stop-loss at 50,400. Resistance is expected between 51,100-51,800, with support levels at 51,000-50,300.

Breakout Stock for Trading (Future, Option & Swing Trading) with Last Day Breakout

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