Nifty Outlook For - 26 December 2024

Sachin Gupta Sachin Gupta

Last Updated: 24th December 2024 - 05:24 pm

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Nifty Prediction for Tomorrow - 26th December 2024

Nifty closed marginally lower (-0.11%) today, with FMCG and Auto sectors shining while Services and Power lagged.  ADANIENT and TATAMOTORS led the gainers, but POWERGRID and JSWSTEEL dragged their performance.  An Advance Decline Ratio of 0.8 highlights broader weakness.  22 stocks advanced vs 28 declines. 

Technically, the market is consolidating at 23700. The level is also a crucial support level to watch. RSI is favorable and closer to the levels where rallies were witnessed in the recent past. Near term support and resistance levels are 23416/23224 and 24039/24231.
 

“Consolidation after yesterday’s sharp pullback”

nifty-chart

Bank Nifty Prediction for Tomorrow - 26th December 2024

Bank Nifty was marginally down. IDFCFIRSTB and AUBANK led the charge with a 1.1% gain, while INDUSINDBK and SBIN lagged, down 1%.  Most other constituents saw minor losses.  Overall, a lackluster session for the banking index.  Near term support and resistance levels are 49982/50460 and 52006/52484.

bank nifty chart

 

Intraday levels  for Nifty, Bank Nifty Levels and  FINNIFTY Levels:

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23416 77426 50460 23406
Support 2 23224 76779 49982 23201
Resistance 1 24039 79520 52006 24069
Resistance 2 24231 80167 52484 24274

 

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