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Nifty Prediction for 28 January 2025
Nifty opened below 23,000 and closed at 22,829.15, down 1.14%. All major indices fell, with Nifty IT losing 3.36%. The month has been poor for Nifty, dropping over 5.5%. Support is at 22,800; a bullish trend may follow if this level holds. Resistance is at 23,000.
As expected, Nifty opened the gap down, below the support of 23,000 but it tried to rise above the 23,000 level in the early session and failed badly to move higher and fell further down towards the 22,800 and traded in a downwards sloping direction throughout the day, closing at 22,829.15 which is 263 points or 1.14% below the previous closing.
All the sectoral and other major indices traded in red today where Nifty IT led the losers with a 3.36% loss followed by Metal, PSE, Energy, and Healthcare which fell above 2% each, while both the small-cap and Midcap Index fell over 3% each.
Nifty Prediction for 28 January 2025
This month is a complete disaster for the Nifty50 as it has already fallen over 5.5% from the high of 24,226 on 2nd January, and still, there is no sign of recovery.
Anyway, Nifty formed a big red candle today after a gap-down opening which is a clear indication of the dominance of the bear, and most likely the Index will continue its current trend in the coming days.
But the good thing for today’s market is that the Nifty 50 has taken support at the 22,800 level which is a crucial level for the market – as seen in the past, and as it has closed the day above this level – we expect some sort of bullishness in the market on Tuesday, 28th January 2025.
The nearby support and most important support for the Index is at the 22,800 level followed by 22,600 and 22,500 levels, while the resistance stands at the 23,000 level followed by 23,200 and 23,300 levels.
What to Expect from Nifty on 28 January 2025
So, as Nifty has respected the support of 22,800 today, there is a much higher probability that the market will likely trade in green tomorrow if it manages to sustain above the 22,800 level in the early trading session.
But there is a huge resistance at the 23,000 level – so possibly, if Nifty reaches that level then we may again witness a sell-off from the higher levels.
And, if Nifty50 breaks anyhow breaks below the 22,800 level then you can go short till the next support of 22,600 and then 22,500 levels.
Trading Level for Nifty: 22,500 – 23,000
Also Read:
Bank Nifty Prediction for Monday, 17 February 2025
By: Raaz Aryan
Nifty Support and Resistance for 28 January 2025
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 22,800 | 23,000 |
| 22,600 | 23,200 |
| 22,500 | 23,300 |
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 🙂
