Nifty Outlook For - 23 December 2024
Market Outlook for 25th November 2024
Last Updated: 25th November 2024 - 04:55 pm
Nifty Prediction for 25th November
The benchmark indices staged a strong recovery on Friday, gaining approximately 2.39% after a week-long decline, driven by heavyweights like Reliance, TCS, Infosys, and SBI. The market saw broad-based buying as both mid-cap and small-cap indices rose by around 1%. Key sectoral indices such as Nifty Realty, PSU Bank, and IT surged nearly 3% for the day, adding to the bullish momentum.
On the technical front, Nifty rebounded from the lower band of a channel formation and sustained above critical levels, including the 200-day moving average and the 50% retracement zone, signaling short-term optimism. Additionally, the RSI showed a positive crossover, staying above the oversold territory. However, resistance at the upper band of the channel near 24,000 remains a hurdle.
Traders are advised to monitor the 23,900–24,000 range closely, as a breakout could drive the index higher towards 24,300–24,500.
On the downside, key support levels are positioned at 23,800 and 23,600, while immediate resistance lies at 24,000 and 24,300.
Nifty rebounded 2.39%, Broad-based buying lifts markets
Nifty Bank Prediction for 25th November
Bank Nifty opened on a positive note and extended its upward momentum on Friday, closing with a 1.5% gain at 51,135.40, supported by strength in PSU and private banks.
On the weekly chart, the index rebounded from the horizontal line and the 50-week EMA support zone, finishing the week with an overall gain of 1.9%. On the daily timeframe, it has moved above previous swing highs, accompanied by a positive RSI crossover, signaling sustained bullish momentum.
Key support levels are identified at 50,700 and 50,300, while resistance levels are marked at 51,450 and 51,800, offering important zones to track for future price movements.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY | SENSEX | BANKNIFTY | FINNIFTY | |
Support 1 | 23800 | 78700 | 50700 | 23550 |
Support 2 | 23600 | 78280 | 50300 | 23480 |
Resistance 1 | 24000 | 79530 | 51450 | 23770 |
Resistance 2 | 24300 | 79870 | 51800 | 23860 |
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