06th Feb 2024 Stock Market Prediction for Nifty & Bank Nifty



NIFTY Prediction

The Nifty started well but ended negatively, dropping around 82 points. Daily charts show continued selling pressure near the upper boundary at 22000, while hourly momentum indicates a weakening upward trend. Expect ongoing range-bound trading until a clear break below 22000 or above 21000 occurs. However, these scenarios are contingent on global cues.

BANK NIFTY Prediction

Today, Bank Nifty index is currently in a situation where it’s more likely to go down than up. It’s finding it hard to go past 46,500 points. If it drops below 45,400 points, we might see more selling happening. Unless it manages to close above 46,500 points convincingly, it’s better to think of it as a market where selling is the safer option, with support likely at 45500 and resistance at 46500.

Stock Prediction for 06th Feb 2024

STOCK Good Above Weak Below
ICICIBANK 1025 1015
M&M 1701 1681
PERSISTENT 8560 8510
TATASTEEL 144 140

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