Nifty and Bank Nifty Prediction for Monday, 27 January 2025: Indian stock market indices closed lower on Friday, snapping a two-day winning streak. Sensex dropped 329.92 points or 0.43% to 76190.46, while the Nifty index prices declined 113.15 points or 0.49% to 23092.20. The continued selling pressure from FIIs and mixed Q3 earnings hit Friday’s market sentiments. The broader markets underperformed the frontline index, as the Nifty midcap index was down by 1.55% and the Nifty smallcap index declined by 2.35%.
Nifty & Bank Nifty Price Movement on Friday
The Nifty index on the spot level opened at 23183.90, a slightly negative opening of 21.45 points on Friday. It touched an intraday high of 23347.30 and a day’s low of 23050.
The Nifty moved 297.30 points intraday. Ultimately, it closed lower by 113.15 points or 0.49% at the 23092.20 level.
The Bank Nifty price opened at 48546.05 on Friday. It made a negative opening of 57.05 points on Friday. The Bank Nifty index touched an intraday high at 48858.65 and a day’s low at 48203.
During the day, Bank Nifty has given a movement of 655.65 points. In the end, Bank Nifty ended lower by 221.20 points or 0.46 percent and closed at the 48367.80 level.
Nifty Prediction for Monday, 27 January 2025
Technically, the Nifty index has erased all early gains after the market’s recent up-move on Friday. The overall sentiment on the street remains cautious to negative and a dip below 22950 in the index will open further doors for 22800 for the next week. While, if the Nifty index move above 23350-23400, will reverse the trend.
According to SBI Securities, a breakdown in the Nifty index below 22,950 could increase the existing selling pressure, with the next support zone around 22,550-22,600. Conversely, a strong close above 23,460 could trigger a short-term pullback rally toward 23,800.
Bank Nifty Prediction for Monday, 27 January 2025
Technically, the Bank Nifty index entered a negative zone in the last trading session. One can go short in Banknifty with a stop loss of 49302 on a daily closing basis said the technical analyst of Equity Pandit. Banknifty would be considered bearish till it trades below 49302 levels.
The BANK NIFTY index has a Support of 48,094 – 47,821 – 47,439 levels, while it has a Resistance 48,750 – 49,132 – 49,406 mark.
Conclusion
Indian stock market indices closed in the red on Friday. Market sentiments are cautious and likely to remain volatile on Monday due to the upcoming Union Budget 2025, Q3 earnings reports, and the Federal Reserve’s interest rate decision. On the global front, the US and European markets also ended mostly in the red last Friday. The Gift Nifty index closed at 23,072.50, down by 58.50 points. Indications from the global front are slightly bearish; however, traders should monitor cues from the Asian markets tomorrow morning.
You may also like to read – Indian Stock Market Prediction For Next Week (27th Jan to 1st Feb 2025)
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