Nifty Prediction For Today - 08 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 8th January 2025 - 11:26 am

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Nifty Prediction for Today - 8 January 2025

NIFTY recovered some lost ground and closed 0.39% up. ONGC was the top performer on a broker upgrade amidst expectations of production ramp up. SBILIFE, HDFCLIFE, TATAMOTORS and ADANIENT were among the stocks that bounced back strongly. On the other hand, IT services stocks performed poorly. ADR was healthy at 2, reflecting a broad-based participation. 

Volatility continues to hold ground. Focus remains on the quarterly earnings season. A consolidation trend seems set as NIFTY struggles to break the 23500 -24000 band. Sustained closes beyond these levels will be critical for taking meaningful positions. Near term support and resistance levels are 23351/23487 and 23928/24065.

“A Panic Monday”

nifty-chart

 

 

Bank Nifty Prediction for Today - 8 January 2025

BANKNIFTY recovered today with a modest rally in most banking stocks. The medium-term technical trend continues to be bearish. However, the low RSI supports tactical short-term rallies. Near term support and resistance levels are 49476/49027 and 50928/51377.

bank nifty chart

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23487 77606 49476 23131
Support 2 23351 77239 49027 22945
Resistance 1 23928 78792 50928 23730
Resistance 2 24065 79159 51377 23915

 

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