Nifty Prediction For Today - 10 February 2025

Sachin Gupta Sachin Gupta

Last Updated: 10th February 2025 - 10:33 am

2 min read

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"

nifty-chart

 

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.

bank nifty chart

 

 

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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