Nifty & Bank Nifty Prediction for Friday, 31 January 2025: Indian stock market indexes ended the volatile trading session higher for the third consecutive day on Thursday. The market was volatile due to the monthly expiry of the Nifty index.
The sentiments remain upbeat as investors look ahead to the Union Budget 2025 during the weekend, anticipating growth-oriented policies in line with fiscal prudence. Meanwhile, investors digested the US Fed’s decision to keep interest rates unchanged at 4.25-4.5%.
The BSE Sensex gained 226.85 points or 0.30% to 76759.81, while the Nifty50 index added 86.40 points or 0.37% to 23249.50. In the broader markets, the Nifty Midcap index closed flat to the negative, while the Nifty Smallcap index ended flat on a positive note.
The market breadth was quite positive, on the NSE, 1359 shares advanced while 1067 shares declined today. On the sectoral front, Nifty Realty, Energy, and Pharma closed higher while the Media, IT, and Consumer Durables closed in the red.
Nifty & Bank Nifty Price Movement on Thursday
The Nifty index on the spot level opened at 23169.50, a positive opening of 6.4 points on Thursday. It touched an intraday high of 23322.05 and a day’s low of 23139.20
The Nifty moved 182.85 points intraday. Ultimately, it closed higher by 86.40 points or 0.37% at the 23249.50 level.
The Bank Nifty price opened at 49206.20 on Thursday. It made a positive opening of 40.25 points. The Bank Nifty index touched an intraday high at 49426.20 and a day’s low at 49031.80.
During the day, Bank Nifty gave a movement of 394.4 points. In the end, Bank Nifty ended higher by 146 points or 0.30 percent and closed near the day’s high at the 49311.95 level.
Nifty Prediction for Friday, 31st January 2025
The Nifty index witnessed a sharp decline in the afternoon erasing all of its earlier gains. However, in the late trade, a strong recovery helped the Index close higher at 23,249.50 marking a decent gain of 86.40 points.
The Nifty index has stiff resistance around 23400 followed by 23450 while support is at 23150 for tomorrow. The overall market sentiment on the street is positive with mid and small-cap indices still under some selling pressure from the highs.
Bank Nifty Prediction for Friday, 31st January 2025
The BANK NIFTY index rallied for the third consecutive day on Thursday and ended the day near the day’s high. The Bank Nifty index was boosted by IDFCFIRSTB (+2.7%) and strong gains in HDFC BANK and INDUSINDBK. PNB fell the most followed by Kotak and Can Bank.
In the near term, the Bank Nifty is likely to remain volatile, it has support and resistance levels at 48747/48487 and 49585/49845.
Conclusion
The Indian stock market maintained its bullish momentum for the third consecutive day, supported by strong investor sentiment ahead of the Union Budget 2025. While volatility persisted due to the monthly expiry, both Nifty and Bank Nifty managed to close higher, signaling resilience in the broader market.
For Friday, 31st January 2025, traders should remain cautious as the market could witness high volatility due to the economic survey report announcement. Key resistance and support levels will play a crucial role in determining the next move for Nifty and Bank Nifty. With global cues, sectoral movements, and institutional activity in focus, market participants should adopt a balanced approach while navigating the final trading session of the week.
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