The Nifty 50 index opened at 23,165.90, showcasing a relatively flat start compared to its previous close of 23,085.95. However, the trading session witnessed a steady upward momentum throughout the day, supported by positive market sentiment. The index touched an intraday high of 23,264.95 before consolidating around the 23,200 mark. By the closing bell, the Nifty 50 ended at 23,207.60, up by 121.65 points or 0.53%, reflecting a positive close after days of market uncertainty.
The recovery throughout the session indicates strong buying interest, particularly in the latter half of the trading day. While the intraday low of 23,134.15 suggests momentary weakness, the index’s ability to close near its day’s high demonstrates resilience. Traders may find the 23,100 level as a critical support zone, while the upward trajectory hints at potential testing of higher levels in the upcoming sessions.
| Open | 23,165.90 | High | 23,264.95 | Low | 23,134.15 |
| Prev close | 23,085.95 | 52-wk high | 26,277.35 | 52-wk low | 21,137.20 |
Source: NSE
What Happen in Broader Market
The market showcased a mixed performance among sectoral indices today. Nifty Metal emerged as the top gainer, closing at 8,267.50 with a significant rise of 316.15 points (+3.98%), driven by strong buying interest in the metal sector. Midcap and small-cap indices also demonstrated robust growth, with Nifty Midcap 100 gaining 1,286.10 points (+2.45%) to close at 53,676.50, while Nifty Small Cap 50 ended 161.10 points higher (+2.00%) at 8,229.30, highlighting broad-based participation in mid and small-cap stocks. Bank Nifty, another major index, climbed by 687.90 points (+1.43%) to close at 48,729.15, reflecting strength in the financial sector.
Conversely, Nifty IT underperformed, closing at 43,061.20, down by 937.90 points (-2.13%), as the technology sector faced profit-booking pressure. Despite this decline, the overall market sentiment remained positive, with indices like Nifty Infra and Finnifty gaining 1.06% and 1.44%, respectively.
Major factors affecting today’s market
After seven consecutive days of decline, Nifty 50 attempted a recovery, supported by positive cues from global markets. The index managed to bounce back, aided by improved sentiment in Asian and US markets, where short covering provided the much-needed boost. Retail investors played a significant role in this recovery, as their buying activity helped Indian markets close in positive territory. The rebound reflects a sense of optimism among participants, though caution remains as markets await further clarity on global economic conditions.
On the sectoral front, Nifty IT stood out as the major underperformer, closing at 43,061.20, down by 937.90 points (-2.13%). The technology sector faced significant profit-booking pressure, dragging the overall sentiment in the segment. Despite this weakness, other indices like Nifty Metal and Nifty Bank managed to post gains, indicating a broad-based recovery driven by renewed buying interest in non-tech sectors. This mixed performance highlights the selective approach of investors amid ongoing volatility.
Market Predictions for Tomorrow
Nifty 50 remains under the critical resistance level of 23,250, keeping the bearish sentiment intact unless it closes above this mark. If the index opens with a gap-up tomorrow, there is a possibility of profit booking, which could push the index lower during the day. Today, Bank Nifty supported Nifty 50’s positive close, driven by optimism around the Bloomberg report on the sale of ₹10,000 crore worth of equity shares in PSU banks. However, weakness in other indices, particularly Nifty IT, weighed on overall sentiment following HCL’s disappointing Q3 results.
Looking ahead, much will depend on Bank Nifty’s performance and whether it can continue to lead the recovery. If the selling pressure in other sectors, especially IT, persists, it could limit Nifty 50’s upward movement. Investors should monitor the 23,250 level closely, as a breakout above it could signal a shift in sentiment. However, as long as the index remains below this resistance, caution is advised.
Nifty 50 Prediction for tomorrow
Nifty 50 closed below the 200 EMA today, yet it remains a strong support zone. If the index manages to hold above the 200 EMA tomorrow, it is likely to close above it. However, failure to sustain this level may lead Nifty 50 to test the 23,250–23,300 range as its next support.
Key levels to watch in Nifty 50:
- Buying Levels: First at 23,000 and second at 22,750; enter only if Nifty 50 holds these levels after proper retesting.
- Selling Levels: First at 23,250 and second at 23,500; consider selling after a breakdown and retesting.
For buying, ensure that Nifty 50 crosses and retests 23,000 for confirmation. Always use proper stop-loss levels, set realistic targets, and trail your stop-losses to manage risk and secure profits effectively.
| 1st Buying level | 2nd Buying level | 1st Selling level | 2nd selling level |
| Above 23,000 | 22,750 | Below 23,250 | 23,500 |
Bank Nifty Prediction for Tomorrow
Bank Nifty has strong support at 48,500 and 48,000. If these levels hold, we may see buying interest. On the upside, key resistance levels are at 49,000 and 49,250. If Bank Nifty approaches these resistance levels, selling pressure could emerge, leading to profit booking.
Key levels to watch in Bank Nifty:
- Support Levels: First at 48,500 and second at 48,000; watch for buying opportunities near these levels.
- Resistance Levels: First at 49,000 and second at 49,250; selling pressure might emerge near these levels.
For buying, wait for Bank Nifty to cross 48,800 and retest it, or buy near 48,500, which is a robust support. Always use proper stop-loss, set clear targets, and trail them to maximize gains and manage risks effectively.
4o
| 1st Buying level | 2nd Buying level | 1st Selling level | 2nd Selling level |
| Above 48,500 | Above 48,000 | Below 49,000 | 49,250 |
Overall Market outlook for Tomorrow
In conclusion, the market outlook for tomorrow, January 15, 2025, suggests a cautious yet optimistic scenario. Nifty 50 faces critical resistance at 23,250, and its ability to break above this level will be key in determining its next move. The Bank Nifty’s performance remains crucial, with strong support levels at 48,500 and 48,000, while resistance levels at 49,000 and 49,250 could trigger profit booking. As sectors like IT show weakness, investors should remain vigilant and closely monitor key levels in both indices for signs of a sustained rally or further consolidation. Proper risk management remains essential as market conditions remain volatile.
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