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Nifty Prediction Today – June 25, 2024. Nifty is likely to go Up.
Nifty is likely to go up as its once again taken support at the 23,400 level indicating that the support is strong enough to push the market higher, and once the Nifty stays above the 23,600 level then we may see Nifty towards the 24,00 this week.
Nifty opened lower on Monday – breaking out of the Rising Wedge Pattern, as Predicted, but once again bounced back from the 23,400 level which is the key support level for Nifty making it over the 23,500 level, closing the day in green with a gain of +36.75 points or +0.16% at the 23,537.85 indicating a strong market this week.
Looking at the charts, the Nifty is still in its Range but FIIs are indicating a bullish market as they are going long in Index Futures and also bullish in Index Options, but in the cash market, both DIIs and FIIs were net sellers on Monday.
Looking at the Sectors then the Nifty Auto and Consumption sector gains the most with more than +0.80% each, and on the other side, the Nifty Oil & Gas and Healthcare sector saw some cool selling with a loss of -0.44% and -0.20% respectively.
Looking at the Nifty 50 Stocks,
Top Gainers: Mahindra & Mahindra, Power Grid, Shriram Finance, Grasim Industries, Bajaj Auto
Top Losers: Cipla, IndusInd Bank, Adani Ports, Coal India, Tata Steel
Also Read: 7 Best Solar Energy Stocks in India for 2024. CAGR Growth of 30%
Nifty50 Prediction for 25 June 2024
On the charts, Nifty seems bullish as it has once again taken support at the 23,400 level which is its key support level in the near term, and jumped back into its safe zone above the 23,500 level, and also the FII activity is looking bullish as they are making new long positions in Index Futures.
What to Expect from Nifty on 25 June 2024
So, for Tuesday, June 25th, 2024, it seems that the Nifty is bullish, and also the Gift Nifty is trading at +62.50 points higher, indicating that the Nifty is likely to open with a gap up around the 23,600 level on Tuesday, as it is above its support level of 23,500 after recovering from the 23,350 level.
But for a bullish market, we need to wait till the Nifty crosses the 23,600 mark and stays above it, If the Nifty takes support at this level then we can see Nifty continuing its uptrend and may travel towards the 23,900 and 24,400 mark, and till it crosses the 23,600 mark, we can wait and watch its movement.
“Here are the trading levels for Nifty – 23,400 – 23,700“
Nifty Put and Call Open Interest Data
| Put OI (Open Interest) | Call OI (Open Interest) |
|---|---|
| 23,000 (1.32Cr) | 24,000 (1.29Cr) |
| 23,400 (67.72L) | 23,500 (56.49L) |
| 23,500 (66.80L) | 23,600 (47.55L) |
Nifty50 Support and Resistance for 25 June 2024
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 23,500 | 23,600 |
| 23,400 | 23,700 |
| 23,300 | 23,800 |
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 🙂
