Nifty Prediction For Today - 22 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 22nd January 2025 - 10:23 am

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Nifty Prediction for Today - 22 January 2025

NIFTY experienced a significant sell-off today, dragged down by a broad-based correction.  Only 9 stocks advanced, yielding a dismal 0.3 ADR.  APOLLOHOSP and TATACONSUM bucked the trend, while TRENT, NTPC and ADANIPORTS led the decline. The fall was sharper in the mid-caps. NIFTY MIDCAP SELECT corrected by 2.8% amidst a sharp sell-off in DIXON. Similarly, NIFTY NEXT 50 corrected by 2.6% on a sharp selloff in ZOMATO. 

NIFTY closed at its lowest level in the past 3 months. The overall sentiment remains bearish as high valuations, FII outflows and a falling INR add to the technical weakness. The recent bounce backs, albeit short lived, have happened at RSI levels close to 30. After today’s correction, RSI has come down to 35. Near term support and resistance levels are 22730/22547 and 23320/23502.

“Closes at lowest level in months!”

nifty-chart

 

Bank Nifty Prediction for Today - 22 January 2025

BANKNIFTY took a hit today, with most constituents posting losses.  ICICIBANK and SBIN led the declines (-2.8% and -2.5% respectively), while AUBANK offered a small reprieve (+0.1%). The majority of banks saw declines between 0.5% and 3%. The index has given up some of the recent gains and continues to trade in the 48000-49000 band. Despite today’s sharp correction, RSI has not fallen to highly oversold levels yet. Near term support and resistance levels are 47129/47680 and 49462/50013.

 

bank nifty chart

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 22730 74793 47680 22150
Support 2 22547 74146 47129 21904
Resistance 1 23320 76884 49462 22947
Resistance 2 23502 77531 50013 23194

 

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