Nifty Prediction For Today - 24 January 2025

Sachin Gupta Sachin Gupta

Last Updated: 24th January 2025 - 10:10 am

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Nifty Prediction for Today - 24 January 2025

NIFTY closed 0.2% up, driven by a strong Construction Materials sector.  ULTRACEMCO led the charge (+6.8%), followed by GRASIM (+2.96%). WIPRO had another good day (+2.8%), which takes its total gain since Jan lows to ~13%. Positivism was also seen in midcaps as NIFTY MIDCAP SELECT index surged 2.2% on strong earnings from IT constituents. A healthy Advance Decline Ratio of 1.5 reflects broad-based participation.  30 stocks advanced vs 20 declined.  

After a sharp fall, NIFTY consolidated over the past 2 days and is inching closer to 23250. In fact, it had briefly crossed the level during the day before settling lower, at 23205. Prevailing trend in the near term is rangebound and consolidation around 23000-23500 levels. Near term support and resistance levels are 22943/22780 and 23468/23631.

“Strong rally in Midcaps”

nifty-chart

 

Bank Nifty Prediction for Today - 24 January 2025

BANKNIFTY came off day’s high and closed lower (-0.3%). PNB was the best performing stock (+1.3%), but AUBANK (-4.4%) and KOTAKBANK (-1.3%) dragged the index down.  Most other stocks showed negligible change. The index has been consolidating around 49000 levels. Near term support and resistance levels are 47851/47394 and 49327/49784.

bank nifty chart

 

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 22943 75602 47851 22285
Support 2 22780 75034 47394 22074
Resistance 1 23468 77439 49327 22967
Resistance 2 23631 78007 49784 23177

 

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