Nifty Prediction For Today - 24 February 2025

resr 5paisa Research Team

Last Updated: 27th February 2025 - 05:45 pm

2 min read
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Nifty Prediction for 24th February 

Another weak day for the NIFTY as it falls 0.6% and closes marginally below 22800. Auto stocks corrected sharply on concerns over a new EV policy that could increase competition. M&M was the top loser at -6%. TATAMOTORS also corrected 2.5%. ADANIPORTS AND WIPRO were among the other top losers. On the other hand, HINDALCO, SBILIFE AND TATASTEEL bucked the trend and were up 2-2.5%. ADR was weak at 0.3 and indicates a broadbased correction. After a brief bounce, MIDCAP SELECT index also corrected sharply today (-2% down).

After holding onto levels above 22800 for nearly a week, NIFTY closed lower today. RSI has also fallen towards 35 and supports further downside. In the past, NIFTY witnessed support at RSI levels of 30. In summary, the current momentum continues to remain negative. Near term support and resistance levels are 22548/22394 and 23045/23199.

"Indices Crack on Regulatory And Macro Headwinds"

 

Nifty Prediction 24 Feb 2025

Bank Nifty Prediction for 24th February

BANK NIFTY saw a weak day after exhibiting uncertainty yesterday. AUBANK and HDFCBANK led with modest gains (+0.2%).  However, FEDERALBNK's 2.6% drop and several other banks exceeding 1% losses overshadowed the positive movements. RSI is weak and near term momentum is increasingly turning negative. Near term support and resistance levels are 48458/48149 and 49457/49766.

Bank Nifty Prediction for 24th February

 

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

  NIFTY  SENSEX BANKNIFTY FINNIFTY
Support 1 22548 74505 48458 22941
Support 2 22394 73987 48149 22800
Resistance 1 23045 76179 49457 23394
Resistance 2 23199 76696 49766 23534
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