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BANK NIFTY
As on 24 Dec, 2024 04:14pm.
51233.00
-84.60 ( -0.16 %)
*As mandated by Exchange & other statutory authorities, the data feeds are delayed by 15 mins.
Range
Daily
52 Weeks
Low
High
51137.50
51382.10
Open
51314.95
Prev.Close
51317.60
Volume
112046629
Short term - Technical Outlook
Bank Nifty, in the 2-hour frame, formed a descending channel, and yesterday's session ended with a 558-point gain at 51,317. It is currently taking resistance at a rising trendline, as shown in the picture. A momentum above 51,380 would be positive, while a move below 51,130 could lead to an intraday fall.The market stayed positive yesterday due to reduced selling pressure from FIIs and increased buying by DIIs. FIIs sold shares worth ?168 crore, while DIIs bought shares worth ?2,227 crore.
Short term Research Report Call
Buy above 51,380 targets 51,700, 52,100, 52,500 with SL 51,230.
Sell below 51,130 targets 50,930, 50,650, 50,350 with SL 51,280.
Short term Chart
Long term - Technical Outlook
Bank Nifty formed a descending channel on the 4-hour chart, and yesterday's session ended with a 558-point gain at 51,317. The daily chart shows a Bullish Harami pattern, indicating potential positive momentum, though it is yet to be confirmed. FIIs' selling has minimized, with outflows of around ?168 crore, while DIIs bought ?2,227 crore. The upcoming jobless claims data is a major global event to watch, but the domestic market remains strong.
Long term Research Report Call
Buy above 51,650 with a stop loss of 51,400 and targets at 52,000, 52,750, and 53,700.
Sell below 50,900 with a stop loss of 51,150 and targets at 50,450, 49,650, and 49,000.
Long term Chart
Market View
December 24th 2024
Market View
Resistance 51,500
Support 51,000
FII & DII Activities
Particular
FIIs
DIIs
Net Purchase/ Sales (Cr)
23 Dec 2024
-168.71
+2,227.68
MTD-May (Cr)
December
-4,289.93
+18,774.09
As of December 24, 2024, Indian equity markets opened on a flat note amid a holiday-shortened week. The NSE Nifty50 index was unchanged at 23,757.1 points, while the BSE Sensex remained steady at 78,554.59 points.Analysts anticipate limited market movement due to the absence of significant triggers. The upcoming Q3 earnings season in January is expected to provide the next major catalysts. Until then, market upside may remain capped unless foreign institutional investors (FIIs) resume buying activity.In sector-specific news, Vedanta's shares are trading ex-dividend today, with a dividend of ?8.5 per share.Additionally, stocks such as Bharat Forge, HG Infra, Adani Enterprises, Nava, and TVS Motor are in focus due to recent corporate developments.Given the current market conditions, investors are advised to exercise caution and closely monitor global cues and domestic developments.
Global Market
December 24th 2024
NASDAQ
USA
19,760.97
188.38 0.96
23rd December
Dow Jones
USA
42,898.61
-8.34 -0.02
23rd December
FTSE
UK
8,102.72
18.11 0.22
23rd December
DAX
GERMAN
19,848.77
-35.98 -0.18
23rd December
GIFT Nifty
Singapore
23,775.5
36.5 0.15
24th December
NIKKEI 225
Japan
39,055.35
-105.99 -0.27
24th December
Shanghai
China
3,377.05
25.79 0.77
24th December
S&P 500
USA
5,974.07
43.22 0.73
23rd December
Market at Closing
December 24th 2024
Top Gainers
| TATAMOTORS | 735.1 12.9 1.79 |
| ADANIENT | 2,372 33.05 1.41 |
| EICHERMOT | 4,800 49.45 1.04 |
| NESTLEIND | 2,170 18.4 0.86 |
Top Losers
| POWERGRID | 310 -5.3 -1.68 |
| JSWSTEEL | 923.8 -13.25 -1.41 |
| SBILIFE | 1,387.3 -18 -1.28 |
| TITAN | 3,359 -37.95 -1.12 |
Technicals
Pivot Advanced Levels
Check live levels for all scripts
Buy Above
51290.00
R1
51343.81
R2
51400.07
R3
51500.36
Stop Loss
51226.41
Pivot
51250.87
(All values are in INR)
Sell Below
51211.73
S1
51157.92
S2
51101.66
S3
51001.37
Stop Loss
51275.33
Pivot Basic Levels
| R4 | R3 | R2 | R1 | Pivot | S1 | S2 | S3 | S4 | |
| Classic | 51722.20 | 51608.83 | 51495.47 | 51364.23 | 51250.87 | 51119.63 | 51006.27 | 50875.03 | 50743.80 |
| Woodie | 51980.20 | 51599.90 | 51491.00 | 51355.30 | 51246.40 | 51110.70 | 51001.80 | 50866.10 | 50512.60 |
| Camarilla | 51367.53 | 51300.26 | 51277.84 | 51255.42 | 51250.87 | 51210.58 | 51188.16 | 51165.74 | 51098.47 |
Moving Averages
Bullish
Bearish
EMA
SMA
5 Day
46321.67
10 Day
45195.09
20 Day
44564.90
50 Day
43545.76
100 Day
42658.23
200 Day
41413.69
Momentum Oscillators
Stoch RSI
50.00
ROC
-4.07
Ultimate
38.27
Williams
-80.86
CCI
-106.05
Stochastic
19.92
RSI
53.57
Bullish
2
Bearish
1
Neutral
4
Trend Oscillators & Volatility
ATR
403.03
High Volatility
MACD
371.05
Bullish
Bullish
1
Bearish
0
Neutral
0
Nifty Stock List
Check all stocks
| Stock Name | CMP | Change (%) | Market Cap (Cr.) | Sector | Piotroski Score |
| HDFCBANK | 1798.1 | -0.161 | 1374792.4 | Banks | 3 / 9 |
| HDFCBANK | 604.5 | 1.0616 | 1374792.4 | Banks | 3 / 9 |
| ICICIBANK | 1297.25 | 0.0347 | 916454.9 | Banks | 8 / 9 |
| SBIN | 812.05 | -1.1082 | 724545.254 | Banks | 5 / 9 |
| KOTAKBANK | 1749.05 | 0.212 | 347811.1 | Banks | 6 / 9 |
Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.
Analyst Certification: I/We, Ayushi Jain Research Analyst, authors, and the name subscribed to this report, hereby certify that all the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. NISM Research Analyst registration number – NISM-201900015194.
Frequenlty asked questions
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