Market Outlook for 09 October 2024 - Nifty and Bank Nifty Prediction
Market Outlook for 18 September 2024
Last Updated: 18th September 2024 - 10:23 am
Nifty Prediction for Today - 18 September
Nifty continued to trade within a range on Tuesday’s session and ended the day above 25400 with marginal gains.
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Post the sharp upmove in last week, Nifty has consolidated within a narrow range in last three trading sessions. This consolidation is seen at the resistance end of a ‘Rising Wedge’ pattern and ahead of the Fed policy event. Hence, the global markets reaction to the event will be important as the equity markets have already run up before the event.
In case of any profit booking, the important supports will be around 25270 followed by 25150. On the higher side, 25500 is the immediate resistance which one surpassed, then the index could rally towards 25700. Traders are advised to stay with the primary trend, but one should keep strict stop losses on existing positions.
U.S.Fed policy outcome to determine short term directions
Bank Nifty Prediction Today - 18 September
The Bank Nifty index too consolidated within a narrow range in Tuesday’s session and ended the day on a flat note. The index is approaching the immediate resistance of 52350 which needs to be surpassed for a continuation of the momentum. On the flip side, the supports for the index are placed around 51800 followed by 51500.
Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY Levels | SENSEX Levels | BANKNIFTY Levels | FINNIFTY Levels | |
Support 1 | 25230 | 82750 | 52000 | 23880 |
Support 2 | 25270 | 82630 | 51880 | 23830 |
Resistance 1 | 25450 | 83320 | 52390 | 24100 |
Resistance 2 | 25500 | 83500 | 52500 | 24160 |
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