Tomorrow’s Market Prediction (December 18, 2023):
Overall Sentiment:
- Volatility: Expect a possibly volatile day with both upward and downward
potential. Global cues, FII activity, and crude oil prices will be key influences. - Profit Booking: After a strong week, some profit booking might occur, leading
to a slight correction.
Specific Predictions:
- Nifty:
o Support levels: 21297, 21138, 21040
o Resistance levels: 21554, 21652, 21811 - Bank Nifty:
o Support levels: 47778, 47412, 47191
o Resistance levels: 48365, 48586, 48952
Factors to Watch:
- Global markets: US and European markets will set the initial tone.
- FII activity: Net selling by FIIs could cause downward pressure.
- Crude oil prices: An increase in oil prices might dampen sentiment.
- News and events: Geopolitical events or economic data releases could impact
the market.
Possible Scenarios:
- Bullish Scenario: If global cues are positive and FII activity remains muted,
Nifty could test 21,554 and Bank Nifty could reach 48,365. - Neutral Scenario: A sideways movement is also likely, with the market
hovering around its current levels. - Bearish Scenario: If global cues are negative and FIIs sell aggressively, Nifty
could fall to 21,138 and Bank Nifty could reach 47,412.
Remember:
- These are just predictions, and the market is unpredictable.
- Manage your risk wisely and never invest more than you can afford to lose.
Disclaimer: This information is based on technical analysis and expert opinions. It is not a guarantee of future performance.
