Nifty Prediction For Today - 23 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 23rd January 2025 - 10:28 am

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Nifty Prediction for Today - 23 January 2025

In the final session, NIFTY from recovered losses and closed reasonably strong. On the other hand, NIFTY MIDCAP SELECT saw another day of selling pressure and corrected 0.8%. Export heavy IT stocks benefited strongly as worries over a falling INR dominated the news. WIPRO, INFY, TCS and TECHM were up 2-4%. Among the laggards were BEL, TATAMOTORS, TRENT, POWERGRID and AXISBANK. The relentless fall takes TRENT’s YTD correction to 20% and more than 30% from its 52W high.

NIFTY continues to show signs of bearishness. Over the past six months, after exhibiting brief signs of consolidation, it has continuously hit lower lows. 23000 remains a key level to watch now. Near term support and resistance levels are 22868/22689 and 23443/23621.

“Recovers from lows to close positive”

nifty-chart

 

Bank Nifty Prediction for Today - 23 January 2025

Similar to NIFTY, BANK NIFTY witnessed a late session surge and closed positive. HDFC Bank and Kotak Bank powered gains, while Canara Bank and Punjab National Bank lagged significantly. Overall performance was muted due to this divergence. Positive momentum hinges on sustaining above 49000. Near term support and resistance levels are 47283/47834 and 49615/50166.

bank nifty chart

 

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 22868 75359 47834 22255
Support 2 22689 74712 47283 22010
Resistance 1 23443 77451 49615 23046
Resistance 2 23621 78098 50166 23291

 

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