Market Prediction: After a week-long decline, the benchmark indices showed an amazing comeback on Friday, climbing about 2.39% powered by heavyweights like Reliance, TCS, Infosys, and SBI. There was broad-based buying in the market, and the small-cap and mid-cap indices both rose by roughly 1%. The roughly 3% daily increase in important sector indices, including as Nifty Realty, PSU Bank, and IT, added to the upbeat atmosphere.
Technically speaking, Nifty showed short-term optimism by rising from the lower region of a channel form and holding above important levels, such as the moving average for 200 days and the 50% retracement zone. The RSI also maintained above the oversold area with a positive crossing. Resistance at the channel’s top band, close to 24,000, is still a barrier, though.
It is recommended that traders keep a careful eye on the 23,900–24,000 region because a breakout might push the index higher towards 24,300–24,500.
Important support levels on the downside are located at 23,800 and 23,600, while 24,000 and 24,300 represent immediate resistance. Bank Nifty began the day higher and continued to rise on Friday, closing at 51,135.40, up 1.5%, helped by PSU and sector bank gains.
The index ended the week Market Prediction with a 1.9% gain after recovering from the horizontal line and the 50-week EMA support zone on the weekly chart. Along with a strong RSI crossover, it has risen above prior swing highs on the daily period, indicating further bullish momentum.
Important zones to monitor for future price movements are provided by the resistance levels at 51,450 and 51,800 and the key support levels at 50,700 and 50,300.
Read more:
Market Outlook for November 21 (2024).
Stock Markets News Live: Today’s Gainers and Losers on (2024).
Does Monday see an increase or decrease in the Market Prediction:
The idea states that if the market was up on Friday, it should stay that way over the weekend and start to rise again on Monday. If the market was down on Friday, the opposite is probably going to happen.
How can I forecast the upcoming stock price:
Technical analysis forecasts future market changes by analysing past price movements. It watches trends and generates signals using a range of technical indicators. Moving averages, Bollinger Bands, relative strength, moving average convergence and divergence, and oscillators are some examples of these indicators.
What is the NIFTY Market Prediction trend:
Technically speaking, the Nifty held above its most recent low, suggesting a possible bullish reversal—so long as it doesn’t break above the 23,350 mark. On the other hand, the index may go towards the 23,700–23,800 range if it maintains above the 23,500 mark, according to Rupak De, Senior Technical Analyst at LKP Securities.
What are the 3 rules of trading:
The 3-day rule, however, suggests that investors hold off on purchasing stock for a full 3 days. This guideline makes it clear how crucial patience is to choosing the best, highest-yield investments. Futures Trading Simulator for Free!
How can one Market Prediction will open:
Trading after hours frequently serves as a Market Prediction of the opening of the next day. Before and after the financial markets close for the day, extended-hours trading in stocks occurs on electronic platforms called ECNs. Investors can forecast the direction of the open market with the support of this activity.
Do I have to trade on Monday:
It’s known as the weekend effect or the Monday effect. Anecdotally, traders claim that Mondays have historically seen a drop in the stock market. Some believe this is because a lot of negative news is frequently announced over the weekend.