Today, we are looking in to the Major resistance and Support levels of Nifty Fin Services to trade on Monday, 21st October 2024. We have also Posted the Intraday Levels for Nifty 50 and Bank Nifty for Monday in our Previous posts, Hope you all read about it? On last Friday's trading session we have seen huge Movement in Nifty Financial Services Indices, moved more than 1.50 percentage. Nifty fin Services Indices closed at 23938 price level, which is more than 350 points.
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| Nifty Fin Services Intraday Stock market Prediction for 21st October 2024 |
Banking and Metal sectors performance the best, which moves more than 1 percentage on last Trading section. Also, IT sector gives more than 1 percentage fall.On the other side, Small cap indices closed at Red and Midcap at green.
Nifty closed at 24862 price level which is 104 points above or 0.42 percentage higher than previous closing day. Metal and Bank Sector performed well on last trading section which takes Sensex in positive by around 300 points to close at 81224 level which is 218 points than opening levels.
Top Gainers in Nifty on Friday are Axis Bank, Wipro, Eicher Motors, ICICI Bank, Shriram Finance.Top losers in Nifty on Friday are Infosys, Britannia Industries, Nestle India, HUL and Asian Paints.
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Nifty Fin Service Latest Intraday Chart Analysis
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| Nifty Fin Service Latest Intraday Chart Analysis, 21st October 2024 |
Above given is the 4 hour chart of Nifty Fin Services Index which is created in Tradingview platform. The Major Support and Resistance are marked in the Chart. Now we can look how it can perform on Monday's Market.
Current Market price of Nifty Fin Services Index is at 23965 which is just below the Resistance level 1 ranges from 23990 to 24027. So, If market Opens Gap up above this Range it can give a bullish movement 24240 and 24330 range. There we have 2nd Resistance area and if can also breaks can give 24800 in upcoming week.
But if the Fin Nifty opens flat or Gap Down and sustain below the Resistance level 1, then it can move towards the Support level 23590 to 23525 range. And it sustain above this level to give market a recovery, where you can look for bullish trades with limited Risk.
Final Thoughts
So, Based on the Market opening above the Resistance level 1 can look for a bullish movement for Nifty Fin Service. And if the Market Opens Below the Resistance Level 1 or Gap down opening can look for Bearish till our Support level mentioned above. Mark the Levels in your Chart and plan your Trades Accordingly.
Disclaimer: Trading involves risk, and past performance is not indicative of future results. Always conduct thorough research and consider consulting with a financial advisor before making any investment decisions. Trade responsibly.