06th JAN 2025 | Asian Index in Neutral. Expect volatile with down movement

NIFTY Prediction

The market took a break after a three-day rally, dropping more than half a percent. After a flat opening, the Nifty traded in a small range for most of the day and ended near its lowest point at 24,005. This pullback seems like a typical pause after a recent rise and might continue until the Nifty moves past the next resistance level of 24,250-24,400. Support is seen between 23,980 and 23,700.

BANK NIFTY Prediction

Bank Nifty continues its positive trend as observed in today’s trading session, closing at 50,969.60. Based on the updated analysis, a long position can be initiated with a stop-loss at 50,750 on a daily closing basis. On the downside, immediate support is identified at 50,750 and 50,500, providing stability against further decline. On the upside, resistance levels are seen at 51,250 and 51,750, marking potential breakout zones. Traders should carefully monitor these updated levels for significant price action and strategically plan their entries and exits.

Breakout Stock for Trading (Future, Option & Swing Trading) with Last Day Breakout