Indice NIFTY 50Mis à jour Nifty 50 Prediction for 22-07-2024: Support & Resistance Levels
In today's session, Nifty 50 traded within a narrow range, displaying significant stock-specific action in the broader markets, which resulted in healthy market breadth. Despite this, the index failed to close in the green. The setup isn't particularly bullish, making it crucial to observe the market's reaction to the Budget.
Factors Influencing Nifty Prediction for Tomorrow:
Budget Impact: The recent Union Budget might have influenced market sentiment.
Global Market Trends: Performance in overseas markets, especially in the US and Europe, can affect domestic indices.
Economic Indicators: Key economic data releases can impact investor confidence.
Result Season: Corporate earnings announcements can lead to stock-specific movements, influencing the overall index.
Support and Resistance Levels:
Support: 24,200 to 24,150, as indicated in previous analysis.
Resistance: On the upside, 24,595 acts as the first resistance. The index needs to surpass the high of 24,855 from Friday to negate the current pattern. Failing to do so might lead to a corrective phase post the event.
The market is expected to be highly volatile in the second half, with subdued activity in the first half until the budget speech concludes.
Technical Indicators for Nifty Prediction:
Max Pain: 24,500
PCR (Put-Call Ratio): 0.89
IV (Implied Volatility): 23.69 as of the closing on 22-07-2024.
Verdict: Given the higher premiums, the market is likely to attempt to decay these premiums before establishing a trend.
By monitoring these factors, traders can make informed decisions regarding Nifty 50 and prepare for possible market movements based on the Nifty prediction for tomorrow.
Disclosure: I am not SEBI registered. The information provided is for educational purposes only and should not be considered financial advice. Consult a qualified financial advisor before making any investment decisions. Social media shares are neither advice nor endorsed by the publisher.
Factors Influencing Nifty Prediction for Tomorrow:
Budget Impact: The recent Union Budget might have influenced market sentiment.
Global Market Trends: Performance in overseas markets, especially in the US and Europe, can affect domestic indices.
Economic Indicators: Key economic data releases can impact investor confidence.
Result Season: Corporate earnings announcements can lead to stock-specific movements, influencing the overall index.
Support and Resistance Levels:
Support: 24,200 to 24,150, as indicated in previous analysis.
Resistance: On the upside, 24,595 acts as the first resistance. The index needs to surpass the high of 24,855 from Friday to negate the current pattern. Failing to do so might lead to a corrective phase post the event.
The market is expected to be highly volatile in the second half, with subdued activity in the first half until the budget speech concludes.
Technical Indicators for Nifty Prediction:
Max Pain: 24,500
PCR (Put-Call Ratio): 0.89
IV (Implied Volatility): 23.69 as of the closing on 22-07-2024.
Verdict: Given the higher premiums, the market is likely to attempt to decay these premiums before establishing a trend.
By monitoring these factors, traders can make informed decisions regarding Nifty 50 and prepare for possible market movements based on the Nifty prediction for tomorrow.
Disclosure: I am not SEBI registered. The information provided is for educational purposes only and should not be considered financial advice. Consult a qualified financial advisor before making any investment decisions. Social media shares are neither advice nor endorsed by the publisher.
Note
Corrigendum: The Analysis is for 23-07-2024, however inadvertently the date has been written 22-07-2024
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.