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Nifty Prediction for 10 February 2025
Nifty opened positively but experienced volatility during the RBI MPC meeting, ultimately closing down 0.18%. Most sectoral indices declined, particularly FMCG and PSU Banks. Despite global market influences suggesting weakness, a bullish pattern is emerging, with predictions of potential rises in the coming days if support levels hold.
Nifty opened on a positive note last Friday and after some volatility during the RBI MPC meeting, Nifty bounced back to the day high of 23,694.50.
Sooner it again started falling to the day low of 23,443.20 – but at the end – Nifty again rose and closed nearly flat with a loss of 0.18% or 43 points at 23,559.95 level.
Most of the sectoral indices traded in red where FMCG and PSU Banks fell the most with over 1% each while some traded in green Metal, Healthcare, Auto, Consumptions, Commodities, and realty where Nifty Metal rose the most.
Nifty Prediction for 10 February 2025
On the daily chart, Nifty forms three consecutive red candles after touching the upper trendline of the Falling Wedge Pattern, which is expected, but last Friday – it fell, and took support at the 15DEMA forming a hammer-like candlestick – indicating that the market is ready for its next up move, and also the closing above the 23,500 level suggests a potentially strong market.
Also on the chart, Nifty tries to break above the 200DEMA, but fails to stabilize above that – indicating some weakness in the market – so there might be a chance that Nifty may fall once more before turning bullish.
The Global Impact
Last Friday, the US market was down over 1% because of weaker Job data for January month, and a report showing a sharp drop in consumer sentiment which could impact the Fed Interest rate cut decision.
This impacts the Gift Nifty index which was down over 150 points last night – suggesting a bear market on Monday.
Nifty Support and Resistance
The nearby support for Nifty is placed at the 23,500 level followed by 23,400 and 23,200 levels while the resistance stands at the 23,700 and 23,800 levels followed by the 24,000 level.
What to Expect from Nifty on 10 February 2025
So, for Monday, we expect a weaker market and Nifty may fall to the 23,500 level and even further toward the 23,400 level if it opens gap down.
But if the Index starts rising after taking support at the 23,500 level or it opens gap up then – the chance of a bullish market is higher – where Nifty is expected to reach the 23,800 level.
However, as we have a falling wedge pattern on the chart – which is a bullish pattern – and a bullish engulfing candlestick pattern on the weekly chart, the Nifty50 is expected to rise higher in the coming days.
Trading Level for Nifty: 23,200 – 23,800
Also Read:
Bank Nifty Prediction for Monday, 17 February 2025
By: Raaz Aryan
Nifty Support and Resistance for 10 February 2025
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 23,500 | 23,700 |
| 23,400 | 23,800 |
| 23,200 | 24,000 |
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.
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