Sensex & Nifty Stock Market Live Updates April 9: Sensex Falls 379 Points, Nikkei Crashes Nearly 4%
Nifty Prediction For Today - 7 March 2025

Nifty Prediction for Today
NIFTY had a choppy opening session and had even dipped into red. However, the scare was brief as it witnessed a sharp intraday rally and closed well in the green. Falling crude prices were a key tailwind. Crude sensitives rallied hard. RIL, BPCL and ASIANPAINT were among the top performers. COALINDIA & HINDALCO rounded off the top gainers as they benefited from weakening USD and optimism related to stimulus from China. On the other hand, lower USD is a headwind for IT stocks. TECHM was the worst performer in the index and NIFTY IT index was the second worst performing index for the day.

Three consecutive days of close above open, and a long lower shadow candle near a support level suggests a significant improvement in near term momentum. The next signal to monitor is a breach of medium-term NIFTY trend line. Near term support and resistance levels are 22269/22098 and 22821/22991.
"A significant intraday recovery sees NIFTY cross 22500"
Bank Nifty Prediction for Today
BANKNIFTY also recovered significantly from its intraday low. AXISBANK was the top performer; followed by AUBANK and PNB. On the other hand, KOTAKBANK, IDFCFIRSTB and SBIN were among the worst performers. Arguably, the near-term momentum is weaker than NIFTY. While BANKNIFTY also had long shadow candle, its close was below the open. Also, market breadth was relatively weak (ADR at slightly above 1 for BANKNIFTY vs 3x for NIFTY). Near term support and resistance levels are 48206/47945 and 49049/49310.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY | SENSEX | BANKNIFTY | FINNIFTY | |
Support 1 | 22269 | 73432 | 48206 | 23008 |
Support 2 | 22098 | 72870 | 47945 | 22911 |
Resistance 1 | 22821 | 75249 | 49049 | 23318 |
Resistance 2 | 22991 | 75811 | 49310 | 23415 |
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