Nifty Prediction For Today - 17 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 17th January 2025 - 11:01 am

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Nifty Prediction for Today - 17 January 2025

NIFTY saw a moderately strong rally today, driven by Insurance majors. HDFCLIFE led the charge with a 7.9% surge. Also, ADANI group stocks had another good day. On the other hand, Consumer Services and IT lagged. Notably, INFY, HCLTECH, TRENT, TATACONSUM & DRREDDY underperformed. Advance-decline ratio was a healthy 1.9 and reflects broad-based buying.  

The gap up opening and consolidation closer to top end of the daily trading range were key positives. Tomorrow’s moves will be dominated by reaction to earnings of RELIANCE, INFY and AXISBANK. RSI has come off oversold levels but continues to be supportive of modest pullbacks. Near term support and resistance levels are 23033/22861 and 23590/23762.

“3rd consecutive day of gains”

nifty-chart

 

Bank Nifty Prediction Today - 17 January 2025

BANKNIFTY saw a positive session. PSU banks rallied and all the index stocks closed in the green. Strong performances were witnessed from BANKBARODA & CANBK (+3%). HDFCBANK's more modest gain (+0.5%) tempered the overall advance. Today’s rally takes BANKNIFTY’s overall gain to 1000 points from the recent bottom. Near term support and resistance levels are 48315/47720 and 50242/50838.

bank nifty chart

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 23033 76141 48315 22545
Support 2 22861 75582 47720 22298
Resistance 1 23590 77945 50242 23342
Resistance 2 23762 78503 50838 23589

 

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