Nifty Prediction For Tomorrow - 31 January 2025
Nifty Prediction For Tomorrow - 29 January 2025
Last Updated: 29th January 2025 - 10:45 am
Nifty Prediction for Tomorrow - 29 January 2025
NIFTY closed up 0.6%, driven by strong Financial Services. RBI’s measures to inject liquidity into the system were cheered by market participants. Liquidity conditions had become tight as RBI’s ammunition was being spent in defending the Rupee. Heavyweights BAJFINANCE, AXISBANK and HDFCBANK were up sharply, exceeding 2.5% gains. Despite the reasonably strong close, the market had many losers as evidenced in the ADR of 1.3. Pharma names were relatively weaker. SUNPHARMA tumbled 4.24% and DRREDDY fell 1.15%.
Today’s bounce was also supported by oversold levels after yesterday’s crash. RSI moved away from oversold levels and the support for sharp rallies is decreasing. Also, NIFTY could not hold on to today’s high of 23130. Bearish conditions continue to prevail. Near term support and resistance levels are 22744/22612 and 23170/23302.
"Banking Stocks Rally"
Bank Nifty Prediction for Tomorrow - 29 January 2025
BANKNIFTY saw strong gains today, fueled by AUBANK and PNB's impressive 4.5% surges. RBI’s liquidity measures were a key reason behind the rally. The only loser in the index was FEDERALBNK. It dropped 4.1% on poor earnings. BANKNIFTY is showing signs of positive momentum. Near term support and resistance levels are 48120/48406 and 49328/49613.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY | SENSEX | BANKNIFTY | FINNIFTY | |
Support 1 | 22744 | 75208 | 48406 | 22593 |
Support 2 | 22612 | 74779 | 48120 | 22462 |
Resistance 1 | 23170 | 76595 | 49328 | 23018 |
Resistance 2 | 23302 | 77024 | 49613 | 23150 |
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