Nifty Prediction TodayThe Nifty index managed to confirm a range breakout above the 24,300 mark and even crossed the crucial hurdle of 24,400 during the week. However, post the breakout, the index witnessed a healthy pullback and retested the breakout zone. The overall price structure resembles a symmetrical triangle breakout, which continues to keep the broader trend positive. Thus, we maintain our bullish stance on the markets. Going ahead, a sustained move above 24,400 would further reinforce positive sentiment and could drive the index towards the next key resistance levels of 24,600 and then 24,800. On the contrary, a breach below 23,900 may negate the breakout structure and could lead to a fresh phase of consolidation.Nifty Support and Resistance Level L1L2CloseResistance245002470024,176Support2400023800 Exponential Moving AveragesExponential Moving Averages 200 DEMA24,85121 DEMA24,314Bank Nifty Prediction TodayEven the Bank Nifty index has confirmed a breakout from the falling trend line, indicating improving momentum in the banking space. However, the index is facing a strong hurdle near the 56,500 mark, and unless this resistance is decisively crossed, the index may continue to witness some pressure at higher levels. On the downside, there is a crucial rising trend line support near 55,000, followed by the previous swing low around 54,200. This support zone is likely to act as an important cushion for the index in the coming week.Bank Nifty Support and Resistance Level L1L2CloseResistance570005950055,310Support5400053500 Exponential Moving AveragesExponential Moving Averages 200 DEMA56,57021 DEMA55,495Share Market News and Events TodayPositive NewsLemon Tree Hotels: Co. Launches Keys Select Hotel in Amritsar with 50 rooms.GHV Infra: Co. Received a Letter of Intent from Cameroon Tyres Factory Project for proposed EPC works for construction of a Green Field tyre manufacturing plant capacity of7.6 million Tyres per annum. The consideration for the aforesaid project to approximately Rs 7,000 Crores.CMS Info Systems: Co. Gets Rs 400 Cr Service Order from HDFC Bank to provide ATM managed services.Brigade Hotel: Co. Celebrates 10 years of Operations in Mysuru, Company to invest Rs 1,000 Cr over the next five years in Karnataka.JSW Steel: Co. emerges as the preferred bidder for a mineral block in Goa with estimated iron-ore resources of 96 million tonnes.Negative NewsAditya Infotech: Co. receives an administrative warning letter from SEBI for compliance lapses under insider-trading regulations. (Negative)

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