Market Outlook for 24 September 2024

Ruchit Jain Ruchit Jain

Last Updated: 24th September 2024 - 09:58 am

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Nifty Prediction for Today - 24 September

Nifty continued its upmove at the start of the week and ended the day above 25900 with gains of more than half a percent.

Nifty rallied higher and is now just few points away from a new record of 26000 mark. The market breadth is positive which hints at a continuation of the uptrend. Although the hourly RSI set ups are in an overbought zone, still there are no signs of reversal and hence the momentum could continue.

Traders are advised to trade with a positive bias and also look for profit booking at higher levels. As per the retracements of previous correction, the index may see some hurdle around 26050 followed by 26270. In case the index approaches 26250-26300 zone, then traders can look for profit booking there. On the lower side, 25740 is the immediate support zone to watch.

 

Nifty continues its uptrend, few points away from 26000

nifty-chart

 

Bank Nifty Prediction Today - 24 September

The Nifty Bank index posted another record high and ended above the 54000 level. The PSU Banks witnessed a catch up move on Monday, as they had not participated in the recent rally and were trading around the supports. Traders should continue to trade with a positive bias until any reversal signs are seen.

However, due to the overbought set ups on the index, it is advisable to avoid aggressive positions here. The support for the index is placed around 53600 followed by 53100 while resistance is seen around 54350-54500.

 

bank nifty chart

 

 

Nifty, Bank Nifty Levels and  FINNIFTY Levels:

  NIFTY Levels SENSEX Levels BANKNIFTY Levels FINNIFTY Levels
Support 1 25800 84450 53830 24830
Support 2 25760 84300 53550 24700
Resistance 1 26030 85200 54300 25050
Resistance 2 26100 85450 54470 25120
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