Market Outlook for 19th November 2024
Market Outlook for 16 October 2024
Last Updated: 16th October 2024 - 10:16 am
Nifty Prediction for - 16 October
Nifty continued to trade within a range and witnessed some resistance again around 25200-25250 zone. The index ended the day just above 25050 with a loss of about a quarter of a percent.
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In last few trading sessions, Nifty has seen a consolidation where 25200-25250 zone has acted as a resistance. The index needs to surpass this hurdle for any deeper retracement pullback and hence, traders should look for buying opportunities in the index only on a breakout above the same.
On the flipside, 24920 is the immediate support followed by the swing low around 24700. A breakout beyond the above mentioned levels could then lead to a directional move and hence, one should look for trading opportunities only on a breakout. Until then, one can focus on trading with a stock specific approach.
Nifty consolidated in a range, 25200-25250 seen as resistance
Bank Nifty Prediction for - 16 October
The Nifty Bank index continued its relative outperformance and ended the day marginally positive. The index surpassed the 52000 mark during the day but did not close above it. A sustained move above this can lead the index towards 52330 and 52830. On the lower side, 51600-51500 range is the immediate support zone.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY Levels | SENSEX Levels | BANKNIFTY Levels | FINNIFTY Levels | |
Support 1 | 24970 | 81530 | 51730 | 23800 |
Support 2 | 24880 | 81250 | 51550 | 23730 |
Resistance 1 | 25180 | 82200 | 52050 | 23950 |
Resistance 2 | 25300 | 82580 | 52200 | 24020 |
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