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Bank Nifty Prediction for 25 November 2024
Bank Nifty experienced a significant rally today, closing at 51,135.40 after reaching an intraday high of 51,271.50. Forming a Bullish Belt Hold Candlestick, it suggests a positive outlook for Monday, with potential targets of 51,500 and 52,000. Support levels are at 51,000, 50,500, and 50,000.
After opening higher and a double top formation in the shorter time frame, Bank Nifty rallied over 700 points today, making an Intraday high of 51,271.50.
Indian Benchmark Indices traded higher today and so the Bank Nifty Index but it is a bit weaker than the benchmark Indices but rallied over 1.5% today and closed above the 51,000 level at 51,135.40 after bouncing back from the support of 49,000 in the previous trading day.
All the banks are trading in green except Federal Bank while the PSU banks rallied the most with an average of 3% leading the Index above the 51,000 mark.
Bank Nifty Prediction for 25 November 2024
On the daily chart, Bank Nifty formed a Bullish Belt Hold Candlestick after a Hammer formation in the previous session, which indicates a further bullish outlook for the Index.
Technical Indicators like RSI and PCR indicate a bullish market ahead, as the RSI is just near 50 which signals a bullish trend, while the PCR rose to 1.16 which also indicates a bullish trend, while the MACD is near a bullish crossover.
Today, the Index tried to make it above its 100DEMA but failed and closed a bit lower than the 100DEMA line, but as it forms a Bullish Belt Hold candlestick it is very likely that the Bank Nifty index will rally on Monday too, with a potential target of 52,000 mark.
Nifty Bank Index has nearby support at the 51,000 level followed by 50,500 and 50,000 levels while the Resistance stands at 51,500 level which is its 50DEMA line followed by 52,000 and 52,500 levels.
What to Expect from Bank Nifty on 25 November 2024
Bank Nifty is likely to rise higher on Monday, 25 November 2024 as it formed a Bullish Belt Hold Candlestick on the daily chart, indicating a bullish market outlook for Monday.
The next target will be the 51,500 level which is near its 50DEMA and once the index stabilizes above the 151,500 then a long trade can be initiated with a potential target of 52,000 level.
But if the Bank Nifty index falls then wait for it to take support near 50,500 and then go long as the buyers are showing a strong grip on the market.
Trading Level for Nifty: 50,500 – 52,000
Also Read:
Nifty Prediction for 11 March 2026
By: Raaz Aryan
Bank Nifty Support and Resistance for 25 November 2024
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 51,000 | 51,500 |
| 50,500 | 52,000 |
| 50,000 | 52,500 |
Note:- For the Most Accurate Data you can revisit this Page after 11:00 AM (during Trading hours), so we can update the Trade Setup after analyzing the Market.
Happy Trading 🙂
