Nifty Prediction For Today - 09 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 9th January 2025 - 10:17 am

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Nifty Prediction for Today - 09 January 2025

Nifty recovered significantly from the lows and closed flat today. Oil & Gas led the gains. ONGC was once again the top performer and closed +3%. TCS also gained, ahead of its earnings release. On the other hand, APOLLOHOSP, TRENT and ULTRACEMCO were drags. Advance-decline ratio recovered during the day but was still negative at 0.8. 

Focus is turning to the quarterly earnings season, with heavyweight TCS, reporting soon. Technically, market remains strongly set within the 23500 to 24000 band. RSI, too, continues to hover around levels that don’t support strong conviction trades. Near term support and resistance levels are 23508/23396 and 23870/23982..

“All Eyes on TCS Earnings”

nifty-chart

Bank Nifty Prediction for Today - 09 January 2025

While the index managed to recover from day’s low, it still closed sharply lower at -0.7%. Heavyweights HDFCBANK, SBIN and ICICBANK corrected ~1%.  Bank Nifty remains technically weak in the medium term. However, low RSI offers support for near term tactical longs. Near term support and resistance levels are 49224/48846 and 50446/50824.

bank nifty chart

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23508 77538 49224 23001
Support 2 23396 77161 48846 22855
Resistance 1 23870 78759 50446 23471
Resistance 2 23982 79136 50824 23617

 

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