Nifty Prediction For Today - 04 February 2025

Sachin Gupta Sachin Gupta

Last Updated: 4th February 2025 - 11:06 am

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Nifty Prediction for Today - 04 February 2025

Inline with Asian markets, NIFTY opened weak. Trump tariffs were a key macro headwind for the global markets. However, NIFTY staged a modest comeback in the afternoon session and closed -0.5% down. Construction/Capex names fell again. LT was the top loser at -4.7%.

On the other hand, consumer durable spending related stocks BAJFINANCE, SHRIRAMFIN, M&M rallied more than 3%. Market breadth was weak too, as 35 of the NIFTY stocks saw declines.

After last week’s rally, NIFTY was due for a breather. Today’s decline can be seen in light of the macro event (Trump Tariffs) that unfolded over the weekend. In that regard, the strong afternoon session indicates that there is buying interest at dips.

RSI has moderated a bit and is not indicative of momentum either way. Near term support and resistance levels are 23038/23162 and 23561/23684.

"Trump Tariffs Send Shockwaves"

nifty-chart

 

Bank Nifty Prediction for Today - 04 February 2025

BANKNIFTY showed weakness and closed -0.6% down. Barring 3, rest of the index stocks were in the red. AUBANK bucked the trend and was up 1.3%. Technically, BANKNIFTY’s double bottom was a significant event for last week’s rally.

Some of that momentum has been tempered after the correction over the past two days. However, RSI is still reasonably high and near-term remains in favor of an upmove. Near term support and resistance levels are 48700/48383 and 49722/50038.

bank nifty chart

 

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23162 76566 48700 22881
Support 2 23038 76182 48383 22725
Resistance 1 23561 77808 49722 23384
Resistance 2 23684 78192 50038 23540
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