Nifty Prediction For Today - 01 February 2025

Sachin Gupta Sachin Gupta

Last Updated: 1st February 2025 - 10:16 am

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Nifty Prediction for Today - 31 January 2025

NIFTY rallied throughout the day and had one of the strongest days in the recent past. Its 1.1% up move was driven by broad-based buying. 44 of the NIFTY stocks closed in the green. Individual standouts include TATACONSUM (+6.2%), BEL (5.5%), COALINDIA (+4.5%), TRENT (+4.6%) and LT (+4.2%).  

Only 7 NIFTY stocks closed in the red; and none more than 1% down. A rebound in global tech stocks, optimistic expectations pre-budget and good Dec Quarter earnings from some of the companies were among the key reasons for the strong performance.

After the 4th consecutive day of gains, momentum has improved substantially. RSI has increased sharply but is still not at overbought levels. However, the upcoming budget day warrants caution as the market has experienced significant volatility on budget days in at least one out of every 3 years in the past 10 years. Near term support and resistance levels are 23218/23329 and 23688/23799.

"A Strong Session Before Budget"

nifty-chart

 

Bank Nifty Prediction for Today - 31 January 2025

BANKNIFTY had another good day today.  PNB surged 5.2% on good earnings. Barring 3 stocks, all other index stocks closed in the green. BANKBARODA was the top loser and slumped 4.0%.  BANKNIFTY has rallied sharply after touching the lows of 48000 early in the week. Momentum has improved.

However, budget day remains a significant event. Near term support and resistance levels are 49155/48888 and 50019/50287.

bank nifty chart

 

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23329 76949 49155 22997
Support 2 23218 76607 48888 22859
Resistance 1 23688 78052 50019 23444
Resistance 2 23799 78394 50287 23582

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