Nifty 50 Day Intraday Prediction for Tuesday, 18 June 2024:- Market closed in Green on Last Friday, on which Nifty closed in 23465 levels which is 0.29 percentage higher than the previous day Closing. Sensex Indices also closed positive at 76922 levels.
Nifty 50 opened gap up on Last trading section but it couldn't sustain the opening levels and slides in the opening section to make a Intraday Low for Nifty 50. But later market recovered to the opening levels. After that Nifty moved sideways with slightly bullish sentiment to close 66 points above the opening levels.
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When we look in to the sectorial indices, Nifty IT sector was worst performance with a loss of 0.86 percentage down. Nifty Auto in Auto sector shows strong performance with 1.29 percentage gains to make a new record high of 23490 levels. Top gainers are Eicher Motors, Mahindra & Mahindra, Adani Ports, Shriram Finance, Titan and top losers are Tech Mahindra, TCS, Wipro, HCL Tech, Kotak Mahindra Bank.
Also Read Our Previous Post on " Nifty 50 Intraday Expiry Prediction for 25th April 2024"
Nifty 50 Intraday Prediction for the Day, 18th June 2024
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| Nifty 50 Day Intraday Prediction for Tuesday, 18 June 2024 |
Here we have shown the Intraday Breakout levels for Nifty 50 Trading view Chart in Hourly Time Frame. From the Chart Analysis given above, we can understand that Nifty can give a upside breakout above 23491 levels which is the Intraday High created on last day. If not Nifty 50 is not breaking this levels, then market can expected to Move towards to 23400, 23336, 23300 levels.
When we look in to the FII data, Still data showing in Buying zone but the Volume decreased, comparing with the previous days. This indicates the decrease in the buying Interest.
Option Chain Analysis For Nifty 50 on18th June 2024
| No | Put OI (Open Interest) | Volume | Call OI (Open Interest) | Volume |
|---|---|---|---|---|
| 1 | 23,400 | 51.19L | 24,000 | 66.45L |
| 2 | 23,000 | 45.39L | 23,500 | 41.01L |
| 3 | 23,300 | 41.17L | 23,400 | 32.94L |
When we look in to the above shown option chain table we can see that we have major supports in 23400, 23300 and 23000 levels. And resistance levels in 23400, 23500 and 24000 levels. Based on these data's we can conclude that Nifty 50 will be positive on Today. But we can't finalize based on Option chain data alone.
Conclusion
So, Overall Trend for Nifty 50 is slightly Bullish by comparing the Option chain Data. But when we look in to the Chart analysis we can see a Major Resistance levels from 23470 to 23490 levels. So wait for this levels to break to looking for bullish movement in Nifty 50 on Today. All the information given in this blog post is for study purpose, So do your own analysis.
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