Nifty and Bank Nifty Prediction Tomorrow, December 26, 2024: Indian stock markets ended slightly lower on Tuesday. The key indices, Sensex and Nifty opened positively but could not sustain higher levels, due to heavy selling pressure in metals, PSU banking, and IT stocks. The Sensex closed lower by 67.30 points or 0.09% to 78472.87, while the Nifty index was down by 25.80 points or 0.11% to 23727.65 on Tuesday.
Nifty Prediction Tomorrow December 26, 2024
According to Choice Broking, the nifty price index is likely to trade sideways, between 23550 and 23900.
Nifty has strong support at 23600-23550 and resistance at 23850 and 23900 levels. A break out above 24350 and 24400 could see a further upward momentum. Traders should keep an eye on these key levels for potential market moves.
Meanwhile, the analyst at Prabhudas Liladher said that the Bears will have the upper hand as long as the Nifty index is trading below the 40HEMA i.e. 23950 levels.
The analysts at Equity Pandit said that the Nifty is currently in a negative trend. One can hold the short positions with a daily closing stop loss of 24066. A fresh long position can be initiated if the Nifty index closes above 24066 levels.
Bank Nifty Prediction for Tomorrow
The analysts at Choice Broking said Bank nifty shows a sideways trend, trading between 50900 and 51550.
The immediate support in Bank Nifty is at 50950 and 50900, with resistance at 51500 and 51550. A break out of above 54700 may lead to further gains, while dips towards support levels could be good buying opportunities.
Meanwhile, the analyst of Equity Pandits said that the Banknifty is currently in a negative trend. One can continue holding the short position with a daily closing stop loss of 51869. A fresh long position can be initiated if the Bank nifty closes above 51869 levels.
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