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Nifty Prediction For Today - 10 February 2025

Nifty Prediction for Today - 10 February 2025
NIFTY had a late session rally; yet closed marginally weak for the day. Interest rate sensitives rallied after the 25bps repo rate cut in MPC. TATASTEEL was the top performer and was up 4.2%. Despite strong performance from some of the NIFTY names, ADR was skewed towards the losers. ITC and SBIN lost the most. Both had weaker than expected earnings. Overall, another meek day for NIFTY.

After rallying sharply, NIFTY is showing signs of consolidation in the 23500 to 23750 band. While the reaction to MPC rate cut was positive, it was limited to select sectors. Also, NIFTY went below the medium term declining trendline and is likely to find resistance again at those levels. Near term support and resistance levels are 23327/23183 and 23793/23937.
"RBI cuts rate in years. Interest Sensitives Rally"
Bank Nifty Prediction for Today - 10 February 2025
BANK NIFTY corrected 0.45%. RBI’s first repo rate cut in many years had negligible impact as it was expected and was likely offset by continued FII selling pressure in banks. Moreover, despite an ADR of 0.5, heavyweight losers SBIN, ICICIBANK and HDFCBANK weighed heavily on the index. Overall, a lack of strong directional trend was evident. Near term support and resistance levels are 49499/49090 and 50819/51228.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY | SENSEX | BANKNIFTY | FINNIFTY | |
Support 1 | 23327 | 77060 | 49499 | 23195 |
Support 2 | 23183 | 76565 | 49090 | 22982 |
Resistance 1 | 23793 | 78660 | 50819 | 23884 |
Resistance 2 | 23937 | 79156 | 51228 | 24097 |
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