Nifty Prediction For - 13 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 10th January 2025 - 05:28 pm

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Nifty Prediction for - 13 January 2025

NIFTY closed in red for the third consecutive day. Weaknesses were widespread in Financial Services sector, Mid-caps and even NIFTY NEXT 50 stocks.  IT bucked the trend and gained 3.6%, boosted by TCS (5.6%). Advance Decline Ratio continues to be weak at 0.4 and reflects a broad weakness.

NIFTY is entering a bearish zone. It dropped for 3 consecutive days. As witnessed by poor ADR, market breadth is weak. Furthermore, RSI is still not at extremely oversold levels. Near term support and resistance levels are 23223/23094 and 23640/23769.

“Entering a bearish territory”

nifty-chart

 

Bank Nifty Prediction for - 13 January 2025

BANK NIFTY slumped again today, dragged down by widespread losses. After the sharp drop since Dec levels, it is in an extremely bearish zone. While RSI is at oversold levels and could lead to short rallies, the medium term trend is weak. INDUSINDBK's -4.4% drop underscored the negative sentiment. AUBANK's 0.9% gain offered little respite. Near term support and resistance levels are 47944/47455 and 49524/50013.

bank nifty chart

 

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23223 76677 47944 22409
Support 2 23094 76243 47455 22210
Resistance 1 23640 78081 49524 23052
Resistance 2 23769 78515 50013 23251

 

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