Nifty 50 prediction today

Indian equities opened lower despite record gains in the US markets. At the start, the Sensex declined by 0.24% (181.4 points) to 76,223.59, while the Nifty50 dropped 0.2% (45.5 points) to 23,109.85. Broader markets showed a mixed trend, with the Nifty Midcap 100 trading higher and the Nifty Smallcap 100 slightly down. Sectorally, most indices were in the red, though the IT sector remained resilient, posting gains of over 1%. Among key movers, Wipro, UltraTech Cement, Tech Mahindra, Infosys, and M&M were top gainers, while HUL, Nestle, SBI, L&T, and Dr. Reddy's Lab were the main laggards.

Institutional activity continued to show sustained selling by foreign institutional investors (FIIs) and consistent buying by domestic institutional investors (DIIs). Large-cap stocks remained relatively resilient compared to the broader market, reflecting a trend toward quality stocks. Persistent high levels in the dollar index and US bond yields are expected to limit a market rally despite oversold conditions. Analysts anticipate heightened volatility in 2025, driven by key events such as the Federal Reserve meeting, the Union Budget, and state elections.

On the technical front, Nifty recently took support near 22,980, forming a hammer tweezer bottom candlestick, which indicates potential recovery toward the 23,350 level. However, sustained bullish momentum is expected only if Nifty closes above 23,500, aligning with the 21-day EMA. Short-term traders should focus on the 23,000–23,350 range, with 23,000 acting as strong support and 23,350–23,400 serving as a key resistance zone.

In the Asian markets, most stocks traded higher, tracking gains from US markets. Japan’s Nikkei rose ahead of the Bank of Japan meeting, while Chinese equities edged higher following government measures to support the market.