Nifty Prediction TodayThe sharp ~6% rally in the Nifty 50 now appears to be more than just a relief bounce, as the index has decisively broken above the crucial 23100–23400 resistance zone and sustained near 24000 levels, indicating that a durable bottom is likely in place and the market has potentially entered the early phase of the next uptrend. On the levels front, we expect Nifty to retest the 24500–24800 zone in the near term, which coincides with the placement of the 200-day EMA on the upside and may act as an immediate resistance band. While some near-term consolidation or a pullback towards the 23600–23200 zone (gap-fill area) cannot be ruled out, such dips should be viewed as buying opportunities rather than signs of weakness, as the broader structure has turned constructive with improving momentum and participation. On the lower timeframe, the hourly chart is now showing negative divergence on RSI, indicating early signs of momentum exhaustion and increasing the probability of a short-term pullback. On the downside, 23600 acts as the first support (gap zone), followed by a stronger support near 23200, which should act as a buy-on-dips zone if tested.Nifty Support and Resistance Level L1L2CloseResistance243002480024,050Support2400023700 Exponential Moving AveragesExponential MovingAverages 200 DEMA24,92721 DEMA23,592Bank Nifty Prediction TodayThe NIFTY BANK index staged a phenomenal recovery, rebounding from lows near 50000 to retest the 56000 mark, translating into a ~10% sharp recovery. On the upside, the index is now approaching a key hurdle around 57000, which coincides with the placement of its long-term moving averages and is likely to act as a resistance zone. On the lower timeframe, the hourly chart is showing negative divergence on RSI, indicating signs of momentum exhaustion and increasing the probability of a near-term pullback. On the downside, 54500 acts as immediate support, and any break below this level could lead to a move towards the gap area near 53000, which should act as a strong demand zone.Bank Nifty Support and Resistance Level L1L2CloseResistance570005750055,912Support5200049500 Exponential Moving AveragesExponential MovingAverages 200 DEMA56,77421 DEMA54,412Share Market News and Events TodayPositive NewsISGEC Heavy Engineering: The company received clearance from the air quality body to resume operations at its Muzaffarnagar unit.GHV Infra Projects: Apco Infratech awards Rs. 1,250 cr EPC contract for development of expressway connectors from Jalna to Nanded, Maharashtra.Epack Durable: The company received Rs 37.5 crore from the government under the PLI scheme.L&T: The company’s realty arm acquired a 100% stake in Intl Green Spaces for Rs. 1,123 crore.HUDCO:The Company Signs Dual Mous With Nbcc For Redevelopment And Asset Monetisation, The First Mou Focuses On The Redevelopment Of A 18,830 Sq. M. Leasehold Land Parcel At New Delhi, The Second Mou Where Co Will Provide Funding Support, While Nbcc Will Handle Project Execution, Consultancy, And Marketing ServicesNegative NewsOIL & GAS stocks- West Asia ceasefire talks fail,Crude jumps 8% back above 100$/bbl (Negative0
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