Nifty Prediction TodayThe Nifty largely oscillated between the 23,850–23,300 range, indicating continued volatility and a lack of strong directional momentum. However, despite multiple bouts of weakness, the index managed to hold above the crucial 23,300 support zone, which is a positive sign from a structural perspective. We continue to maintain our stance that a decisive breakout and sustained move above 23,850 could mark the beginning of the next major rally and gradually pave the way towards fresh highs in the coming months. However, the move is unlikely to be one-sided, as the market is expected to face multiple hurdles on the upside. The immediate resistance is placed near 24,200, followed by the crucial zones around 24,600 and eventually the psychological 25,000 mark. On the downside, the broader structure still remains stable unless the index slips below the important 23,100 support zone, which continues to act as the maximum downside level for the current setup. Overall, traders are advised to maintain an optimistic yet stock-specific approach, as selective sectors and quality setups are expected to outperform even amid market volatility.Nifty Support and Resistance Level L1L2CloseResistance238002430023,719Support2350023300 Exponential Moving AveragesExponential MovingAverages 200 DEMA24,75421 DEMA24,022Bank Nifty Prediction TodayThe NIFTY BANK index witnessed sharp volatility and precisely filled the important gap support near the 52,800 zone, which also coincided with the crucial 61.8% Fibonacci retracement level. The index has managed to stabilize and consolidate near these levels, indicating that buying interest is gradually emerging from lower zones. Going ahead, the key hurdle for the banking index continues to remain near 54,500. A decisive breakout and sustained move above this resistance could trigger a strong rally in the banking space and significantly improve overall market sentiment in the coming weeks. In fact, we believe that once 54,500 is convincingly crossed, BANK NIFTY has the potential to outperform the broader markets, with the index likely heading towards the 56,000–58,000 zone in the coming weeks, supported by strength in heavyweight private banking names and improving momentum structure. Overall, the broader setup remains constructive as long as the index continues to hold above the crucial 52,800–53,200 support zone.Bank Nifty Support and Resistance Level L1L2CloseResistance550005650054,055Support5250051500 Exponential Moving AveragesExponential Moving Averages 200 DEMA56,32221 DEMA54,395Share Market News and Events TodayPositive NewsAdani Power: Co. successfully completed the acquisition of a 24% stake in Jaiprakash Power Ventures, effectively taking over its 180 MW thermal power plant .Adani Ports: Co. completed the acquisition of Jaypee Fertilisers and announced that its arm has incorporated a new wholly-owned subsidiary, Astro Ship Management Angola..Eicher Motors: The automaker plans to acquire a 50% stake in Volvo Financial Services via a Rs 750 crore investment, effectively forming a 50:50 Joint Venture.Tata Steel: The Supreme Court has stayed an Rs 891 crore GST demand that was previously raised against the company.Man Industries: Co’s subsidiary acquired a 100% stake in National Pipe Co in Saudi Arabia, adding 4.3 lakh MTPA of pipe manufacturing capacity.Negative NewsVedanta: The Supreme Court passed a judgment against its unit, Talwandi Sabo Power, upholding an alleged penalty and ordering the company to pay Rs 127 crore to the Punjab State Power Corp. (Negative)RailTel Corp: The company confirmed the termination of an Rs 26.7 crore order, citing that it could not execute the work due to a steep price increase in OFC and HDPE pipes caused by the ongoing war crisis. (Negative)

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