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    Nifty 50 Nifty Bank Analysis
    for April 24
    , 2024Today Stock Market

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    Chanakya’s Nifty Bank & Nifty 50 Investments Analysis

    Nifty Bank (47970)
    :

    *Major Trend: Bullish
    *Trend for 24 April: Nifty Bank is expected to show positive opening on Wednesday 
    *On higher side, it is expected to move up to 48215
    *On lower side, expected to decline to 47812

    Nifty 50 (22368):
    *Major Trend: Bullish
    *Trend for 24 April: Nifty is expected to show positive opening on Wednesday 
    *On higher side, expected to move up to 22427
    *On lower side, it is expected to decline to 22329

    Nifty Analysis by Shrikant Chouhan Head Equity Research Kotak Securities

    Among Sectors, Reality index gained 2.58 percent whereas Pharma index shed nearly 1 percent. Technically, after a sharp bounce back the Nifty/ Sensex witnessed narrow range activity near 20 day SMA (Simple Moving Average). On daily charts, the index has formed small bearish candle which clearly suggesting indecisiveness between the bulls and bears. We are of the view that, currently the market witnessing non-directional activity perhaps traders are waiting for either side breakout. For the bulls now, 22450/74000 would be the immediate breakout level. Above which, the market could rally till 22550-22600/74300-74500. On the flip side, below 22300/73500 the selling pressure is likely to accelerate. Below the same, the market could retest the level of 50 day SMA or 22200-22160/73200-73050.

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    9 Comments on “Nifty 50 & Nifty Bank Analysis

      1. admin Post author

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    1. mrinalpgore

      Adani Ports& SEZ shares are not picking up? Any hopes in the near future of improving these shares?

      Reply

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