Nifty Prediction For Today - 05 February 2025

Sachin Gupta Sachin Gupta

Last Updated: 5th February 2025 - 10:37 am

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Nifty Prediction for Today - 05 February 2025

NIFTY surged 1.6% today. A pause in Trump Tariffs was a key reason behind the rally. Budget victims – LT and BEL bounced back sharply and were among the top performers. Financials had another good day with strong performances by SHRIRAMFIN and INDUSINDBK.

On the other hand, TRENT and ITCHOTELS were the worst performing stocks as they witnessed declines of 6.4% and 4.2% respectively. 

Despite the strong surge, ADR was not overwhelmingly positive. More than 20% of the index stocks were in the red. Many of these were stocks that went up after the budget. Today’s session marks a significant trend shift as NIFTY broke through medium term trend lines upwards.

RSI is getting closer to oversold levels and pullbacks are inevitable. However, the trend remains in favor of bullish upmoves. Near term support and resistance levels are 23509/23366 and 23970/24112.

"NIFTY sees a trend shift"

nifty-chart

 

Bank Nifty Prediction for Today - 05 February 2025

BANKNIFTY enjoyed a strong day, driven by IndusInd Bank's 3.4% surge and solid gains from Axis Bank, Kotak Bank and HDFC Bank. On the other hand, AU Bank gave up some of its recent gains and corrected 1.5%. Barring 2, rest of the banking stocks were in the green.

BANKNIFTY is on the verge of breaking through a medium term decline trendline. Another positive session would indicate a stronger trend shift. RSI is approaching oversold levels and pullbacks are likely. However, momentum in favor of upmoves has picked up. Near term support and resistance levels are 49255/49600 and 50715/51060.

bank nifty chart

 

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23509 77784 49600 23307
Support 2 23366 77288 49255 23113
Resistance 1 23970 79384 50715 23934
Resistance 2 24112 79879 51060 24128
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