Nifty Prediction For Today - 07 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 7th January 2025 - 11:09 am

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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”

nifty-chart

 

 

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.

bank nifty chart

 

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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