Nifty Prediction for Tomorrow – 8 January 2025

NIFTY recovered some lost ground and closed 0.39% up. ONGC was the top performer on a broker upgrade amidst expectations of production ramp up.

SBILIFE, HDFCLIFE, TATAMOTORS and ADANIENT were among the stocks that bounced back strongly. On the other hand, IT services stocks performed poorly. ADR was healthy at 2, reflecting a broad-based participation.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Volatility continues to hold ground. Focus remains on the quarterly earnings season. A consolidation trend seems set as NIFTY struggles to break the 23500 -24000 band. Sustained closes beyond these levels will be critical for taking meaningful positions. Near term support and resistance levels are 23351/23487 and 23928/24065.

“A Panic Monday”

Bank Nifty Prediction for Tomorrow – 8 January 2025

BANKNIFTY recovered today with a modest rally in most banking stocks. The medium-term technical trend continues to be bearish. However, the low RSI supports tactical short-term rallies. Near term support and resistance levels are 49476/49027 and 50928/51377.

Intraday levels for Nifty, Bank Nifty Levels and FINNIFTY Levels: