Nifty Prediction For Today - 03 January 2025
Nifty Prediction For - 06 January 2025
Last Updated: 3rd January 2025 - 04:58 pm
Nifty Prediction for - 6th January 2025
NIFTY closed weak today, with Oil & Gas leading gains (1.4%) while Services lagged (-2.2%). ONGC and TATAMOTORS rallied on bottom fishing after steep corrections and bullish brokerage reports. On the other hand, WIPRO and HDFCBANK lagged.
A weak advance-decline ratio (0.6) suggests broad-based weakness. Given the sharp start of the year rally and a high RSI, the correction is healthy. It gives an opportunity for tactical longs. Near term support and resistance levels are 23696/23504 and 24314/24505.
“A Healthy Correction”
Bank Nifty Prediction for - 6th January 2025
BANK NIFTY dropped 1.2% today, mostly due to heavyweight private sector banks HDFCBANK and ICICIBANK falling 2-2.5%. On the other hand, PNB and IDFCFIRSTB were up nearly 1% each. Advance decline ratio of 1 suggesting that the overall sentiment was not too bearish. Near term support and resistance levels are 50221/49746 and 51757/52232.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY | SENSEX | BANKNIFTY | FINNIFTY | |
Support 1 | 23696 | 78630 | 50221 | 23367 |
Support 2 | 23504 | 78263 | 49746 | 23139 |
Resistance 1 | 24314 | 79816 | 51757 | 24104 |
Resistance 2 | 24505 | 80183 | 52232 | 24332 |
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