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Nifty Prediction for 11 February 2025
Nifty opened at 23,500 but fell below key support levels, closing at 23,381.60, down 0.76%. A Falling Wedge Pattern suggests potential recovery, with critical supports at 23,300, 23,200, and 23,000. Despite bearish signals, a bounce back is possible if the market maintains current levels. Trading levels range from 23,000 to 23,600.
Nifty opened in red near the support of 23,500 but soon breached the support levels of 23,500 and 23,400 and traded in the red for the rest of the day – despite the subject that the BJP won the Dehli elections, which in some way may boost the market according to some experts.
Anyway, the good thing here is that the Nifty found its support at the 23,300 level where in the last hour it rose from the Intraday low of 23,316 and closed the day at 23,381.60 which is 178.35 or 0.76% lower than the previous day’s closing.
Nifty Prediction for 11 February 2025
On the daily chart, a big red candle is formed, breaking below the short-term EMA’s – signaling a bearish market ahead, but in my opinion, this is just a reaction or working of chart patterns which we have already discussed in our earlier articles.
So, currently, the Nifty forms a Falling Wedge Pattern, and as expected there is some selling when the Nifty touches the upper trendline which is said as a pullback – which is necessary for moving further high.
Also Nifty has taken support at one of the major support levels, which is 23,300, and hopefully – it will start rising anytime soon.
On the hourly timeframe, the last two candlesticks have the same lo,w and the second one, the green candle has moved higher from the red one, which is a bullish sign, so there is a high chance of recovery in the market tomorrow.
But as per the current scenario, the market is bearish and might fall lower towards the support of 23,200 – but if holds at the current levels or opens higher then we may see a sharp reversal.
The nearby support stands at the 23,300 level followed by 23,200 and 23,000 levels, while the resistance stands at the 23,400 and 23,500 levels.
What to Expect from Nifty on 11 February 2025
So, for Monday, as per the chart pattern or the sentiment – the market is currently bearish, and could follow the same pattern, but support at 23,300 might hold the market at the current levels, but if it falls lower then we have a support of 23,200 and 23,000 levels – and hopefully the market will bounce back from these support levels.
Trading Level for Nifty: 23,000 – 23,600
Also Read:
Bank Nifty Prediction for Monday, 17 February 2025
By: Raaz Aryan
Nifty Support and Resistance for 11 February 2025
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 213,300 | 23,400 |
| 23,200 | 23,500 |
| 23,000 | 23,600 |
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 🙂
