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Nifty Prediction For - 17 February 2025

Nifty Prediction for - 17 February 2025
NIFTY fell for the 8th consecutive day as it ended the day at -0.44%. Barring IT services stocks, all other sectoral stocks were in the red. Advanced Decline ratio was extremely bearish at 0.2. ADANIPORTS and ADANIENT were among the top losers with each losing more than 4%. Midcap index corrected 2.4% and bore the brunt of today’s fall. Also, Pharma stocks were down sharply on tariff fears.

NIFTY exhibited significant volatility around 23000 levels. Prior to the late afternoon rally, momentum had turned decisively bearish for the NIFTY. An inverted hammer followed by a bearish candle suggested a pickup in bearish momentum. However, the late session rally tempered the momentum buildup and continues to indicate a lack of any clear direction. Near term support and resistance levels are 22694/22548 and 23165/23311.
"Midcaps Crack. NIFTY Searches For Direction At 23000"
Bank Nifty Prediction for - 17 February 2025
BANK NIFTY corrected 0.5% today. Weak performances from AUBANK (-3.5%) and CANBK (-3.3%) were the key drag. On the other hand, ICICIBANK bucked the trend with a 0.8% rise, but this wasn't enough to offset the broader weakness. Technically, BANK NIFTY is mirroring NIFTY. 3 consecutive closes below the trendline and a bearish candle with a late session rally following an inverted hammer. A close below 49000 could indicate further downside. Near term support and resistance levels are 48439/48031 and 49760/50168.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY | SENSEX | BANKNIFTY | FINNIFTY | |
Support 1 | 22694 | 75139 | 48439 | 22842 |
Support 2 | 22548 | 74644 | 48031 | 22629 |
Resistance 1 | 23165 | 76739 | 49760 | 23531 |
Resistance 2 | 23311 | 77235 | 50168 | 23744 |
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