Nifty 50 Prediction Today 11th March 2024

The Nifty 50 traded flat yesterday because of the weekly expiry of Nifty 50, making an intraday low of 22,430.00 and an intraday high of 22,525.65.

Looking at the stocks, all the Index heavyweights underperformed yesterday as Reliace is down by -1.60%, HDFC Bank traded flat as it faced heavy resistance from the 1450 level, and ICICI Bank ended in red or down -0.83%, except TCS, that gains more than +1%.

Nifty Prediction Today

The Nifty 50 is trading flat but it’s maintaining its position at the upper level as it approaches 22,500 levels, but it’s not able to sustain above it, as yesterday was the weekly expiry of Nifty 50.

Anyway, for Today we think the Nifty will fall a little bit as it faces resistance from the upper levels and also the RSI is falling indicating the market is weakening and remember that RSI is a leading indicator (as we saw in our Best Indicators for Options Trading Article).

But we didn’t think that trend would change as this may be a minor fall to 22,300 or 22,200 levels, as the market is getting ready for the next bull run, eyeing a new Target of 23,000 and even more.

Nifty Support and Resistance for Today

Here are the support and resistance levels drawn on the technical chart,

How to Trade in Nifty Today

Nifty is facing resistance from the upper levels but we think it to remain flat or maybe a little bit down today,

So for trade setup in Nifty,

You can visit this page again during trading hours or after 11:00 AM

Note: I am not providing too much info for today as I also entered in an Option Buying Trade and hence my fear is influencing my trade setup for Friday.

Happy Trading 🙂