Market Outlook for 25th November 2024

Sachin Gupta Sachin Gupta

Last Updated: 25th November 2024 - 04:55 pm

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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-chart

 

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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