BANK NIFTY
As on 24 Jan, 2025 04:14pm.
48367.80
-221.20 ( -0.46 %)
*As mandated by Exchange & other statutory authorities, the data feeds are delayed by 15 mins.
Range
Daily
52 Weeks
Low
High
48203.00
48858.65
Open
48546.05
Prev.Close
48589.00
Volume
139948431
Short term - Technical Outlook
Bank Nifty is trading in a broadening wedge pattern, as seen in the chart. Currently, it is testing its resistance level after the breakdown, and it closed at 48,589.
Technically, momentum can be expected above 49,100 and below 48,650, making these levels critical for traders to watch. A sustained move above 49,600 could indicate bullish momentum, while a breakdown below 48,350 might signal further weakness in the index.
FIIs continued their selling activity with a net sale of 5,462.52 crore, while DIIs bought 3,712.55 crore. For the month, FIIs have sold 66,321.65 crore, while DIIs have purchased 64,542.19 crore. A change in institutional activity could positively influence the market.
Ongoing concerns over U.S. President Trump's tariff policies, moderate corporate earnings, and the falling value of the rupee are contributing to market volatility. Additionally, the anticipation of key upcoming events such as the Indian Union Budget and the Federal Reserve's monetary policy decision will influence investor sentiment.
Short term Research Report Call
Buy above 49,100 with targets at 49,580, 49,950, and 50,420. Stop loss: 48,850.
Sell below 48,650 with targets at 48,350, 48,100, and 47,900. Stop loss: 48,900.
Short term Chart
Short term - Technical Outlook
Bank Nifty is currently trading within a descending channel on the 4-hour chart and closed at 48,589. It is facing resistance in the 49,700–49,600 range, with major support at the 47,650–47,800 range.
FIIs continued their selling activity with a net sale of 5,462.52 crore, while DIIs bought 3,712.55 crore. For the month, FIIs have sold 66,321.65 crore, while DIIs have purchased 64,542.19 crore. A change in this institutional activity could positively influence the market.
Ongoing concerns over U.S. President Trump's tariff policies, moderate corporate earnings, and the falling value of the rupee are contributing to market volatility. Additionally, the U.S. Federal Reserve's interest rate decision on January 30, 2025, will be closely monitored, as changes to U.S. interest rates could impact global liquidity.
Momentum is expected above 49,700 and below 48,350. Holding below 49,700 will add further negativity to Bank Nifty.
Short term Research Report Call
Buy above 49,700 with targets of 50,500, 51,000, and 51,600. Stop-loss: 49,000
Sell below 47,650 with targets of 46,570, 45,900, and 45,100. Stop-loss: 49,500
Short term Chart
Market View
January 24th 2025
Market View
Resistance 49,000
Support 48,000
FII & DII Activities
Particular
FIIs
DIIs
Net Purchase/ Sales (Cr)
23 Jan 2025
-5,462.52
+3,712.55
MTD-May (Cr)
January
-66,321.65
+64,542.19
The benchmark indices opened higher on Friday, driven by gains in Asian markets, despite modest Q3 earnings keeping volatility intact. The S&P BSE Sensex rose 204.76 points to 76,725.14, while the NSE Nifty50 gained 64.15 points to 23,269.50. Broader market indices also traded marginally higher amid cautious investor sentiment.
While most Nifty sectoral indices were positive, Nifty Pharma declined by over 1.5%. Top gainers included BPCL, Powergrid, Coal India, and Tata Steel, whereas Dr Reddy’s, Apollo Hospitals, and Sun Pharma were among the top losers.
Nifty continues to trade below its 200-day moving average of 23,982, reflecting a bearish trend. Major concerns include record FII outflows of over ?66,000 crore this month and tariff uncertainties. Key events like the FOMC meeting and the Union Budget may influence market direction.
Cement and industrial stocks showed resilience, with UltraTech Cement rising 7% despite a profit decline. Meanwhile, technology stocks remain a safer bet, supported by strong Q3 results and optimistic management outlooks.
Global Market
January 24th 2025
NASDAQ
USA
20,043.08
33.74 0.17
24th January
Dow Jones
USA
44,604.54
39.47 0.09
24th January
FTSE
UK
8,565.2
20.07 0.23
23rd January
DAX
GERMAN
21,411.53
157.26 0.73
23rd January
GIFT Nifty
Singapore
23,311
54 0.23
24th January
NIKKEI 225
Japan
40,192.85
233.98 0.59
24th January
Shanghai
China
3,240.18
10.02 0.31
24th January
S&P 500
USA
6,117.22
30.85 0.51
24th January
Market at Closing
January 24th 2025
Top Gainers
| HINDUNILVR | 2,380.1 58.4 2.52 |
| BRITANNIA | 5,100 87.4 1.74 |
| EICHERMOT | 5,190.25 74.05 1.45 |
| GRASIM | 2,495 33.85 1.38 |
Top Losers
| DRREDDY | 1,226.2 -63.2 -4.9 |
| TRENT | 5,499 -234.6 -4.09 |
| M&M | 2,799 -87.45 -3.03 |
| ADANIENT | 2,314.05 -70.95 -2.97 |
Technicals
Pivot Advanced Levels
Check live levels for all scripts
Buy Above
48581.39
R1
48725.63
R2
48876.43
R3
49145.25
Stop Loss
48410.92
Pivot
48476.48
(All values are in INR)
Sell Below
48371.58
S1
48227.34
S2
48076.54
S3
47807.72
Stop Loss
48542.05
Pivot Basic Levels
| R4 | R3 | R2 | R1 | Pivot | S1 | S2 | S3 | S4 | |
| Classic | 49679.10 | 49405.62 | 49132.13 | 48749.97 | 48476.48 | 48094.32 | 47820.83 | 47438.67 | 47056.50 |
| Woodie | 50416.26 | 49351.28 | 49104.96 | 48695.63 | 48449.31 | 48039.97 | 47793.66 | 47384.32 | 46482.36 |
| Camarilla | 48728.41 | 48548.10 | 48488.00 | 48427.90 | 48476.48 | 48307.70 | 48247.60 | 48187.50 | 48007.19 |
Moving Averages
Bullish
Bearish
EMA
SMA
5 Day
45366.60
10 Day
44674.15
20 Day
44292.03
50 Day
43433.40
100 Day
42601.49
200 Day
41385.18
Momentum Oscillators
Stoch RSI
50.00
ROC
-2.29
Ultimate
40.71
Williams
-80.01
CCI
-74.66
Stochastic
20.16
RSI
53.57
Bullish
1
Bearish
1
Neutral
5
Trend Oscillators & Volatility
ATR
405.13
Low Volatility
MACD
188.31
Bullish
Bullish
1
Bearish
0
Neutral
0
Nifty Stock List
Check all stocks
| Stock Name | CMP | Change (%) | Market Cap (Cr.) | Sector | Piotroski Score |
| HDFCBANK | 1649.8 | -0.907 | 1261627.87 | Banks | 3 / 9 |
| HDFCBANK | 604.5 | 1.0616 | 1261627.87 | Banks | 3 / 9 |
| ICICIBANK | 1209.2 | 0.6199 | 854500.3 | Banks | 8 / 9 |
| SBIN | 744.15 | -0.2346 | 664304.1 | Banks | 5 / 9 |
| KOTAKBANK | 1886.2 | -0.4565 | 375049.08 | 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.
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