Nifty Prediction For Tomorrow - 08 January 2025
Nifty Prediction For Today - 07 January 2025
Last Updated: 7th January 2025 - 11:09 am
Nifty Prediction for Today - 7 January 2025
On HMPV jitters, concerns over slowing earnings momentum and a weak INR, all major indices corrected heavily. NIFTY closed down 1.6%. Healthcare and IT bucked the trend while most capex related names fell sharply. Needless to say, ADR (Advance Decline Ratio) was extremely bad with only 7 stocks being in the green zone.
Given the sharp rally before the past two day’s correction, RSI isn’t at oversold levels yet. As such, even tactical buying opportunities may have to wait till RSI offers support amidst heightened volatility. Near term support and resistance levels are 23341/23172 and 23891/24061.
“A Panic Monday”
Bank Nifty Prediction for Today - 7 January 2025
BANK NIFTY took a dive today, dragged down by significant losses in major players. BANKBARODA and PNB led the decline, while ICICIBANK closed flat. Widespread weakness was evident and as the index corrected to its worst close in the pass 6 months. Near term support and resistance levels are 49034/48484 and 50810/51360.
Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY | SENSEX | BANKNIFTY | FINNIFTY | |
Support 1 | 23341 | 77372 | 49034 | 22946 |
Support 2 | 23172 | 77005 | 48484 | 22716 |
Resistance 1 | 23891 | 78558 | 50810 | 23690 |
Resistance 2 | 24061 | 78925 | 51360 | 23920 |
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