Unlock Your Potential In The Stock Market India

By Author: Wizprout Digital
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INTRADAY MARKET UPDATE - JANUARY 04, 2024

The trading session commenced positively with an opening at 21605.80, and this trend continued, testing the intraday high of 21659.35. Currently, the market is trading at 21647, indicating a gain of 130 points. The immediate intraday support is positioned at 21,600, with the resistance level identified at 21,675. A move above the 21,675 resistance may signal a continuation of the positive trend for the day; otherwise, the index may consolidate below this level.

Intraday support levels are established at 21600 and 21,500 while corresponding resistance levels are at 21,675 and 21,750. Additionally, short-term support is recognized at 21,600, accompanied by resistance at 22000.

The Bank Nifty commenced the day on a positive note at 47805.40 and continued the momentum, testing the intraday high of 48181.25. Currently trading at 48096, it reflects a gain of 396 points. On the higher side, the intraday resistance is noted at 48200, while the support stands at 48000. The positive momentum can continue if the index surpasses the resistance of 48200.

Intraday support ...
... levels for the Bank Nifty are positioned at 48000, 47,800, and 47,600, with corresponding resistance levels observed at 48200 and 48,400. Taking a short-term perspective, support is identified at 47,000, coupled with resistance at 48,200.