Market Analysis For 7-May-24

NIFTY Prediction

NIFTY (22,443) Nifty has entered into negative trend in last trading session. You can go short in Nifty with stoploss of 22,736 on daily closing basis. Nifty would be considered bearish till it trades below 22,736 levels.

NIFTY Support 22,372 – 22,301 – 22,192

NIFTY Resistance 22,551 – 22,660 – 22,731

BANKNIFTY Prediction

BANKNIFTY (48,895) Banknifty is currently in negative trend. If you are holding short positions then continue to hold with daily closing stoploss of 49,673. Fresh long positions can be initiated if Banknifty closes above 49,673 levels.

BANKNIFTY Support 48,702 – 48,509 – 48,233

BANKNIFTY Resistance 49,171 – 49,446 – 49,639

FINNIFTY Prediction

FINNIFTY (21,744) Finnifty is currently in positive trend. If you are holding long positions then continue to hold with daily closing stoploss of 21,648 Fresh short positions can be initiated if Finnifty closes below 21,648 levels.

FINNIFTY Support 21,670 – 21,597 – 21,487

FINNIFTY Resistance 21,854 – 21,964 – 22,038

SENSEX Prediction

SENSEX (73,896) Sensex is currently in negative trend. If you are holding short positions then continue to hold with daily closing stoploss of 74,891. Fresh long positions can be initiated if Sensex closes above 74,891 levels.

SENSEX Support 73,668 – 73,440 – 73,095

SENSEX Resistance 74,241 – 74,587 – 74,815

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