07th Feb 2024 Stock Market Prediction for Nifty & Bank Nifty

NIFTY Prediction

Nifty started the day with gains and continued to trade positively, ending around 165 points higher. Looking at the daily charts, we notice that the Nifty has been mainly trading within an upward channel. Presently, the 21,700 mark acts as a key support level for the Nifty. As for resistance, levels are seen at 22,120 and 22,500.

BANK NIFTY Prediction

Bank Nifty ended the session in the red, indicating it might have been oversold. A positive crossover on the hourly chart hints at a potential rebound after the recent downturn. We anticipate the Bank Nifty to climb back to levels around 47,000 to 48,000 on the upside. However, a critical support level is situated at 45,000.

Stock Prediction for 06th Feb 2024

STOCK Good Above Weak Below
BHARATFORG 1296 1278
DIXON 6360 6300
ICICIBANK 1032 1020
TVSMOTOR 2060 2030

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