Nifty Outlook For Today - 31 December 2024

Sachin Gupta Sachin Gupta

Last Updated: 31st December 2024 - 09:35 am

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Nifty Prediction for Today - 31st December 2024

While the NIFTY MIDCAP SELECT index was up 1.7%, the large cap NIFTY 50 closed down 0.7% amidst a broad based selloff. ADANIENT surged 7% on news flow regarding asset sales and broker upgrades. HCLTECH and TECHM too closed positive. These were among the few gainers in the index where more than 75% of the stocks fell.  

 

After showing signs of consolidation above 23750 over the past few days, the index broke near term technical support levels and closed below 23650. Traders should remain cautious before building long positions. Volatility could continue to dominate in the near term. Near term support and resistance levels are 23349/23166 and 23941/24124.

“Strong Diverence – Midcaps surge while Largecaps fall”

 

nifty-chart

Bank Nifty Prediction for Today - 31st December 2024

BANK NIFTY showed weakness today.  AUBANK and IDFCFIRSTB were up almost 2%. However, losses in heavyweights ICICIBANK, KOTAKBANK, SBIN & HDFCBANK and SBIN led to a 0.7% drop in the index.  Volatility was evident, highlighting a lack of clear directional momentum. Near term support and resistance levels are 49759/50215 and 51690/52147.

bank nifty chart

 

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23349 77249 50215 23227
Support 2 23166 76631 49759 23017
Resistance 1 23941 79247 51690 23904
Resistance 2 24124 79865 52147 24113

 

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