Market Outlook for 25 June 2024

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 25th June 2024 - 10:59 am

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Nifty Prediction for Tomorrow - 25th June

Nifty started the week marginally negative, but the index managed to recover from its support of 23350 and ended the day on a positive note above 23500.

While the markets witnessed some correction at the start of the day on Monday, the index managed to find a support around its hourly 89 DEMA and recovered from that support. The broader markets recovered as the day progressed which hints at a continuation of the uptrend. The immediate support for Nifty is placed at 23350-23300 range and till this is intact, the momentum remains positive. On the higher side, 23650-23700 is seen as the immediate hurdle which if surpassed, then we could see a rally towards 23900-24000 soon. Traders should continue to trade with a positive bias and look for stock specific opportunities on the long side.  

                         Nifty recovers from the support of 23350-23300

Bank Nifty Prediction for Tomorrow - 25th June

Along with the Nifty index, the banking index too recovered from the morning lows on Monday and ended on a positive note. The index has not event breached its hourly 40 EMA support and hence, the trend for the Bank Nifty index still remains positive. The supports for the index are placed around 51150 followed by 50500 while the immediate hurdle is around 51950. A move above this could lead the index towards 52500 followed by positional target around 54200.
Hence, it is advisable to trade with a positive bias and look for signs from the private sector banks which could take the leadership to take the index higher.



Nifty, Bank Nifty Levels and  FINNIFTY Levels:

Support 1 23400 76900 51270 22880
Support 2 23270 76500 50850 22700
Resistance 1 23690 77600 52000 23180
Resistance 2 23820 77850 52300 23280

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