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Market Prediction for 26th Nov 2023

Nifty Prediction for Tomorrow, 29th Nov 2023

The latest data shows that Nifty October futures are trading at a discount of 14.85 points in comparison to the Nifty 50 spot price. Regarding options, the Open Interest (OI) distribution for Nifty Put options highlights the highest concentration at the 19,000 level, indicating potential support for the current expiry. On the Call side, significant OI concentrations are observed at the 20,000 and 19,800 strike prices, signifying potential resistance levels for the current expiry.

For traders and investors, it is advisable to consider buying opportunities during dips in Nifty while maintaining an appropriate stop-loss below the mentioned support levels.

NIFTY Support 19,902 – 19,810 – 19,706

NIFTY Resistance 20,097 – 20,202 – 20,293

Bank Nifty Prediction for Tomorrow, 29th Nov 2023

Our view of #Nifty breaking above 19,850 and rising to 20,400 and higher has gone wrong. #Nifty has seen a sharp fall below 19,400 last week. That has turned the charts weak and the outlook bearish. So, the rise to 20,000 and higher is not happening now and there could be more falls in the coming days.

On the other hand, we got the fall to 42,000 on the #NiftyBank index right. Although 42,000 is a strong support for the #NiftyBank, it is now important for it to get a strong follow-through rise above 44,000 from here. Else, the #NiftyBank index can also remain under pressure to see more fall.

NIFTY Support 19,902 – 19,810 – 19,706

NIFTY Resistance 20,097 – 20,202 – 20,293

Market Predictions Credit:- MarketMongoose.com*

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A full-service broker in India offering a wide range of investment and trading services at the same cost as that of discounted brokers. Angel One has an active client base of 49,14,984 as of November 2023.

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A full-service broker in India offering a wide range of investment and trading services at the same cost as that of discounted brokers. Angel One has an active client base of 49,14,984 as of November 2023.

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Published- January 28, 2020