Nifty Prediction For Today - 31 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 31st January 2025 - 10:23 am

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Nifty Prediction for Today - 31 January 2025

In a volatile session, NIFTY rallied late and closed positively for the third consecutive day. The rally was broad-based as 35 of the NIFTY stocks were in the green. BEL was the top performer at 4.9% up. POWERGRID, HEROMOTOCO, BHARTIARTL and CIPLA were up more than 2.5%. On the other hand, TATAMOTORS plunged 7% on poor results. New Listing after demerger, ITCHOTELS was down 5%. While the large cap indices were in the green, NIFTY MIDCAP SELECT saw significant selling pressure and was down 0.64%. VOLTAS was a key drag on that index as it corrected 13% after weak earnings.

 

 

As evidenced by the rising RSI, NIFTY is entering into a territory of bullish momentum for the near term. Today, NIFTY had witnessed buying at lows and closed near day’s high despite being in the red at one point. Near term support and resistance levels are 23005/23099 and 23400/23494.

"Rallies Late and Confirms Bullish Momentum"

nifty-chart

Bank Nifty Prediction for Today - 31 January 2025

BANKNIFTY rallied for the third consecutive day and ended the day close to day’s high. Barring 2, all the banking stocks closed in the green. The index was boosted by IDFCFIRSTB (+2.7%) and strong gains in KOTAKBANK and INDUSINDBK.  PNB's (-2.0%) underperformance tempered the advance. Near term support and resistance levels are 48747/48487 and 49585/49845.

bank nifty chart

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23099 76134 48886 22927
Support 2 23005 75747 48622 22799
Resistance 1 23400 77386 49738 23341
Resistance 2 23494 77773 50002 23468
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