Nifty Prediction For Today - 16 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 16th January 2025 - 10:48 am

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Nifty Prediction for Today - 16 January 2025

NIFTY ended a volatile day marginally positively. It recovered from intraday lows and closed up 0.16%. Stock specific moves dominated the NIFTY. NTPC, TRENT & POWERGRID were up 3-4% while M&M, AXISBANK, BAJAJFINSV AND BAJFINANCE were down 2-3%. Advance-decline ratio was nearly even (27 up, 23 down). 

NIFTY remains in search of a direction in the near term. Bearishness continues to be the prevailing medium term trend as the pullback cools down and RSI heads back up from oversold levels. US CPI will be a key event to watch for the day. Near term support and resistance levels are 22935/22763 and 23492/23664.

“Recovers from intraday lows in a volatile session”

nifty-chart

 

Bank Nifty Prediction Today - 16 January 2025

BANK NIFTY recovered from intraday lows and closed flat. Barring KOTAKBANK, bellwether private sector banks closed in the red. AXISBANK was the worst performer at -2.4%. Like NIFTY, the pullback is moderating as RSI recovers from extremely oversold levels. Near term support and resistance levels are 47193/47788 and 49715/50311.

 

bank nifty chart

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 22935 75822 47788 22281
Support 2 22763 75264 47193 22035
Resistance 1 23492 77626 49715 23079
Resistance 2 23664 78185 50311 23325

 

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