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Nifty Prediction for Monday, 25 November 2024
Today, Nifty surged by 557 points, surpassing the 23,900 mark after establishing support at 23,300. All indices rose, with IT leading at over 3%. Technical indicators signal a bullish trend, predicting further gains towards 24,500. Key support is at 23,800, while resistance is at 24,000.
As expected, Nifty rallied today by 557 points making it over the 23,900 level after support at 23,300 level in the previous session.
Indian benchmark indices opened the gap up and continued to trade higher for the day and rallied 2.39% making an intraday high of 23,956.10 which is a crazy 2.39% rise from the previous closing after weeks of correction.
All the indices rallied today, with the IT sector experiencing a bull run of over 3% followed by Realty, FMCG, and Energy Sector stocks.
While the larger index rallied over 2% Nifty small-cap and mid-cap saw a sluggish rise whereas Nifty small-cap rallied just 0.90% and mid-cap rose just 1.17 percent.
Nifty Prediction for 25 November 2024
Nifty50 rises above the 23,900 level after opening a gap up indicating a further bull run in the market. On the daily chart, Nifty crosses over the 200DEMA and rises significantly maintaining a higher high and higher low pattern, which is a bullish pattern.
Technical indicators including RSI, MACD, and PCR rose significantly where the RSI rose to 43 from the oversold zone, the MACD gave a bullish crossover, and the PCR rose to 1.15 which is a bullish indication.
As Nifty rises today, the market turns bullish for the short term and recovers from the bearish zone in the long term, and likely rally further towards 24,500 in the coming days.
Nifty has the nearby support at the 23,800 level followed by 23,500 and 23,400 levels while on the higher side, Nifty has the nearest resistance at the 24,000 level followed by 24,200 and 24,500 levels.
What to Expect from Nifty on 25 November 2024
As we saw a huge rally in the market today where Nifty recovered some of its losses it is expected that the market will continue its bull run in the coming days.
On the hourly chart, a higher high and higher low pattern formation indicate a further rise in the market toward the 24,000 and 24,200 levels on Monday 25th November 2024.
But if the market falls back then the support at 23,500 would likely give some rest to Nifty and the market will likely bounce back from there.
but for any long position wait for the Nifty to stabilize above the 23,800 level because the seller might try to pull the market lower to exit the positions and as a result, there might be a short covering in the market on Monday – so stay calm in the first hour of trading.
Trading Level for Nifty: 23,500 – 24,500
Also Read:
Bank Nifty Prediction for Monday, 17 February 2025
By: Raaz Aryan
Nifty Support and Resistance for 25 November 2024
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 23,800 | 24,000 |
| 23,500 | 24,200 |
| 23,300 | 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 🙂
