Nifty and Bank Nifty Prediction for Tomorrow, 25 January 2024
Nifty and Bank Nifty Prediction for Tomorrow, 25 January 2024: Indian equity benchmarks rebounded after the previous day’s selloff and ended with substantial gains on Wednesday. The domestic markets opened negative following mixed global cues and erased all losses in the morning deal.
Indices marched towards the north as the secession progressed on heavy buying in the Media, Metal, and PSU Banking counters. All the sectoral indices participated in the rally. The market breadth was strong today. On the NSE, 1744 shares advanced, whereas 769 shares declined. The NSE’s volatility index slipped 3.21% to 14.38.
The broader markets outperformed the benchmark indices, as Nifty mid and smallcap indices gained 1.83% and 1.72% respectively. In the end, Sensex jumped 689.77 points or 0.98% and settled at 71060.31 level, while Nifty advanced 215.15 points or 1.01% and closed at 21453.95. You can read the detailed market updates here.
Nifty and Bank Nifty Futures Price Movement for (25 Jan expiry)
The Nifty futures price for the January 25 expiry opened at 21160 making a negative opening of 34.25 points on Wednesday. It has touched an intraday high of 21505 and a day’s low of 21141.
The Nifty futures price has given an intraday movement of 364 points. Ultimately, the Nifty futures closed higher by 294.65 points or 1.39% at 21488.90 levels.
The Bank Nifty futures for the January 25 expiry opened at 44500. It made a lower opening of 413.05 points on Wednesday. The Bank Nifty futures touched an intraday high at 45550 and a day’s low at 44499.85.
During the day, the Bank Nifty futures have given a movement of 1050.15 points. In the end, Bank Nifty Futures closed higher by 218.25 points or 0.49 percent and closed at 45131.30 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 25 Jan 2024
Nifty Futures Prediction for Tomorrow, 25 Jan 2024
Primary Trend in Nifty Futures: Positive and Volatile
Range-Bound Trend: All up Moves can initiate profit Booking @ 21600 whereas All Down Moves can Initiate Short Covering @ 21400
Suppose the Nifty futures move above 21535 and sustain. Then the index can trade in a range of 21570- 21610- 21660 levels during the day.
If the Nifty futures share price moves below 21400 and is sustained. Then the index futures can trade in a range of 21365- 21330- 21290 levels during the day.
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Bank Nifty Futures Prediction for Tomorrow, 25 Jan 2024
Primary Trend in Bank Nifty Futures- Mild Positive and Volatile
Range-Bound Trend of Bank Nifty Future: All up moves can Initiate Profit Booking @ 45500 whereas All down moves can Initiate Short Covering @ 44900.
Suppose the Bank Nifty futures move above 45355 and sustain, then the index can trade in the range of 45500- 45740- 45840 levels during the day.
If the Bank Nifty futures move below 44910 and sustain, then the index can trade in the range of 44790- 44580- 44450 levels during the day.
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Global Stock Market Updates
The other Asian stock market indexes mostly closed higher on Wednesday, as investors assessed fresh economic data and with support measures from Beijing for China’s stumbling economic recovery. The People’s Bank of China said it would cut the reserve requirement ratio for financial institutions by 50 basis points in the post-market hours. The Shanghai index closed higher on stimulus hope. Hang Seng bounced back after a recent sharp fall to multi-year lows, due to a rally in tech stocks.
Meanwhile, profit booing was witnessed in Nikkei 225, after it had surged to 34-year highs. Japan’s December exports data came better than expected. Australia’s S&P ASX 200 index ended on a positive note, as the manufacturing activity expanded in January after 11 months of contraction. The Straight Times, SET Composite, and Taiwan ended in the green, while Kospi and Jakarta ended in the red.
European markets are trading higher on Wednesday, as the preliminary composite and manufacturing PMI data showed improvement in January. Investors are now looking ahead to the European Central Bank’s monetary policy decision on Thursday.
In the US, the Dow Jones and Nasdaq futures are trading higher, indicating a positive opening for the US markets today.
Conclusion
Indian markets after witnessing a sharp sell-off in the previous session bounced back ahead of the monthly F&O expiry. Markets are likely to remain highly volatile on Thursday. Investors can also follow our Daily Morning Report at 7:30 a.m. for market direction. You can also follow our Nifty and Bank Nifty support and resistance levels during the live market. You may also like to read the key factors that are likely to impact the stock markets this week.
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