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Nifty Prediction for 30 December 2024
Nifty opened higher, peaking at 23,938.80 before stabilizing to close at 23,813.40, a gain of 0.27%. Despite losses in PSE and Metal indices, bullish sentiment persists as the India Vix fell. Predictions suggest Nifty may rise towards 24,000, aided by short covering from FIIs. Support is at 23,800.
Nifty opened gap up and traded higher in the early trading session to the day high of 23,938.80 and after an hour of opening, it started falling – stabling near the opening price and then traded flat for the remaining day, where it hopefully closes above the 23,800 level at 23,813.40 which is a gain of 63.20 points or 0.27 percent.
Despite a positive day, Nifty PSE and Metal indices lost nearly 1% followed by the Commodities and Oil & Gas Index while Auto and Healthcare gained to most. Also, the India Vix fell over 5% yesterday – indicating a bullish sentiment.
Nifty Prediction for 30 December 2024
On the technical chart, Nifty formed a Gravestone Doji candlestick which is a bearish candlestick pattern indicating a coming fall in the market but as it has not formed at any higher levels, the chances of falling are very low.
Anyway, this pattern formation breaks the Symmetrical Triangle pattern on the higher side which is later settled near the upper trendline – suggesting a positive market ahead, but it must need to stabilize above the 23,800 level in the early trading session on Monday.
Also, the current Short Covering in the Nifty Futures led by FIIs will likely trigger a short-term rally in the market, therefore we expect a Positive market Next week and Nifty may likely cross the 24,000 mark once again.
The nearby support for Nifty has shifted to 23,800 level followed by 23,600 and 23,500 levels while the resistance has moved to 24,000 level followed by 24,200 and 24,500 levels.
What to Expect from Nifty on 30 December 2024
For Monday, 30 December 2024, Nifty is expected to rise towards the 24,000 level as it breaks higher from the current Symmetrical Triangle Pattern indicating a positive outlook.
Also, the short covering in the Nifty Futures led by FIIs will likely trigger a short-term rally in the Nifty which is again a bullish indication.
So for Monday, Nifty is expected to rise to the 24,000 mark once again.
Trading Level for Nifty: 23,500 – 24,200
Also Read:
Bank Nifty Prediction for Monday, 17 February 2025
By: Raaz Aryan
Nifty Support and Resistance for 30 December 2024
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 23,800 | 24,000 |
| 23,700 | 24,200 |
| 23,500 | 24,500 |
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 🙂
