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Nifty 50 Nifty Bank Analysis for February 24, 2025
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Chanakya’s Nifty Bank & Nifty 50 Investments Analysis Stock market today live
Nifty Bank (49335)
*Trend for February 21, 2025
On Thursday, Bank Nifty showed correction & closed at 49335, down by 235.55 points. Now On Friday, at the opening bell, BankNifty is expected to open with bullish momentum. Medium term undertone is very bearish.
*On higher side, it is expected to move up to 49477
*On lower side, it is expected to decline to 49172
Nifty 50 (22913.15)
On Thursday, Nifty showed downtrend in the afternoon session & closed at 22913.15, down by 19.75 points. Now On Friday, Nifty is expected to open on positive note and then by afternoon session, will continue downtrend momentum from the opening bell. Medium term undertone is very bearish. Bank nifty is expected to slide further.
*On higher side, it is expected to move up to 22954
*On lower side, it is expected to decline to 22843
- Reliance, Target & Stoploss
- Gold Analysis
- FII buy-Sell
- Technical Analysis
- Calls for the Day
- Currency Analysis
Technical Analysis of the Market by Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities
After showing a range bound action in the last few sessions, Nifty slipped into weakness on Friday and closed the day lower by 117 points amidst choppy movement. After the early session decline on Friday, the market consolidated at the support of 22700 levels in the better part and showed minor upside recovery from the lows in the mid to later part of the session.
A small red candle was formed on the daily chart with minor upper and lower shadow. Technically, this candle pattern indicates a formation of high wave type pattern at the lows. Normally, such high wave formation indicates high volatility in the market and confusion state of mind among investors.
Nifty is currently placed at the crucial supports of around 22700 levels (38.2% Fibonacci Retracement), but not showing any strength to bounce back from the said supports.
The underlying trend of Nifty remains choppy. A decisive downside breakout of the support of 22700 could open the downside of around 22450 levels (20-month EMA) in a quick period of time. Immediate hurdle to be watched for trend reversal on the upside around 23000-23100 levels.
What is Vaishali Parekh’s prediction for Nifty 50?
(Vice President — Technical Research at Prabhudas Lilladher)
Market Preview
Domestic equity benchmarks Sensex and Nifty 50 settled lower for the third straight session after fresh tariff threats, weak Asian markets, and foreign fund outflows hurt investor sentiment. The frontline indices have changed little this week after slipping to their lowest since early June on Friday.
The 30-share BSE Sensex dropped 203.22 points, or 0.27 per cent, to settle at 75,735.96. During the day, the index tanked 476.17 points, or 0.62 per cent, to 75,463.01. The NSE Nifty 50 dipped 19.75 points, or 0.09 per cent, to close at 22,913.15. Selling pressure in heavyweight stocks such as HDFC Bank, ICICI Bank, ITC, and Maruti Suzuki India dragged down the major indices.
Broader markets, however, bucked the trend with mid-cap and small-cap indices gaining more than one per cent. The BSE smallcap gauge jumped 1.32 per cent, and the midcap index climbed 1.18 per cent. The financial services index lost 0.75 per cent after rising for three consecutive sessions.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty continues to hover between a very narrow range for quite some time– between 22,800 and 23,000 –with 22,800 level sustained as of now, which is a positive sign to keep hopes alive for a fresh upward move in the coming days.”
For Bank Nifty, the Prabhudas Lilladher stock market expert said, “The Bank Nifty index, visibly with a lacklustre session, ended in the red near the 49,300 zone with near-term support maintained near the 48,500 level.”
Stock market today
For today’s outlook on the Nifty 50, Parekh said, “We continue to maintain our stance; as stated earlier, only a decisive move past the 23,350 zone shall confirm a positive breakout above the descending channel pattern on the daily chart, which shall establish conviction for a further rise in the coming days.”
n Bank Nifty, she said, “The index would need a decisive close above the 50EMA level of 50,000 to establish conviction. Afterwards, expect a fresh upward move with targets of 51,700 and 52,500 levels visible in the coming days.”
The support for the day is seen at 22,800 levels, while the resistance is at 23,200 levels. Bank Nifty would have a daily range of 49,000-50,000 levels.
Share Market today live & Nifty Analysis by Shrikant Chouhan
Head, Equity Research Kotak Securities
Reciprocal tariff concerns continued to dominate the global and the Indian equity markets. Nifty 50 and the Sensex 30 indices saw weekly loss, whereas the BSE Midcap and the BSE SmallCap indices posted weekly gains. On the sectoral front too, the performance were mixed. BSE Metals and BSE Power were amongst the key gainer. BSE Auto led losses during the week as auto stocks were under pressure amid news report pertaining to possible sharp reduction in import duty. BSE IT and BSE healthcare were also impacted amid concerns over reciprocal tariffs by the US. Weak investment sentiment for emerging market, news flow on tariffs and monetary policy outcomes is expected to influence equity markets in the near term.
Analysis by Mr. Devarsh Vakil, Head of Prime Research HDFC Securities
The Nifty extended its losing streak to a fourth consecutive session, declining 117 points (0.51%) to close at 22795. The index recorded its lowest weekly close since May 31, 2024, with a weekly decline of 0.58%. Trading activity picked up, with NSE cash market volumes rising 6% compared to the previous day.
February saw India’s private sector output surge to a six-month high, driven primarily by robust services activity, according to HSBC’s flash India Composite PMI. The Services PMI Business Activity Index jumped to 61.1 from January’s 56.5, while the Manufacturing PMI showed a modest slowdown, easing to 57.1 from 57.7 in January.
Despite initial gains, broader markets witnessed significant intraday volatility. The Nifty Midcap 100 and Small-cap indices retreated more than 2% from their day’s highs, ending lower by 1.32% and 0.7% respectively. Market breadth remained negative, with the BSE recording an advance-decline ratio of 0.75.
Sectoral performance was largely negative, with the Nifty Metal Index emerging as the sole gainer. The Auto, Healthcare, Pharma, and Realty sectors led the declines.
Nifty was unable to surpass its 5-day EMA throughout the week. The index faces immediate support at 22,700, below which it could test 22,460. On the upside, the 23,000 level is likely to act as resistance.
Analysis by Om Mehra, Technical Analyst, SAMCO Securities
No updates for today
Analysis by Rajesh Bhosale, Technical Analyst, Angel One Ltd – Angel One
Nifty witnessed yet another choppy trading session
With no major triggers, the benchmark index Nifty opened on a flat note. In the initial hour, it slipped to retest the 22800 zone but gradually recovered, reclaiming most of the lost ground. Eventually, it ended nearly unchanged, with a minor loss of 0.11%, just below 22950.
Technically, there hasn’t been much change, but consistent buying at lower levels over the past two sessions bodes well for the bulls. Moreover, selective stock participation is providing some stability to sentiment after the recent weakness. On the technical front, a base appears to be forming around the 22800–22700 zone, aligning with the lower boundary of a Falling Wedge pattern. Strong support is evident at every 100-point interval, with key levels at 22600–22500, coinciding with the 127% retracement of the early February rebound. Additionally, a two-point positive divergence on the RSI Smoothened signals that bears are losing momentum at lower levels, hinting at early signs of near-term positivity. Given the recent price action, traders are advised to continue with a buy-on-dips approach.
That said, despite these positive signals, bulls are not entirely in the clear. A crucial factor to watch is whether follow-up buying sustains. Immediate resistance is seen at last Thursday’s high of around 23200, which aligns with the 20-DEMA, followed by the upper boundary of the Falling Wedge at 23400, a critical hurdle. Traders should closely monitor these levels, and any dips should be utilized to accumulate quality stocks in a staggered manner.
Analysis by Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
Indecision Grips Nifty amid low
Volatility; Critical Breakout Ahead
Nifty index extended its sluggish movement, with the absence of a decisive trend keeping traders cautious. Selling pressure in the early-session pushed the index lower, but a modest recovery helped it stay above the crucial support zone. Despite continuous selling at higher levels, bears have failed to secure a conclusive close below 22,800, reaffirming its strength as a key support. For the past three sessions, the index has struggled to surpass its previous day’s high, signalling that sellers remain firmly in control at elevated levels. With heightened intraday volatility and a lack of conviction from both bulls and bears, Nifty ultimately settled at 22,795.90, shedding 0.50% (-117.25 points), reflecting a guarded market sentiment.
On the daily chart, the index has formed an indecision candle at the support zone, highlighting uncertainty in the broader trend. While persistent selling pressure suggests underlying weakness, the inability to sustain above resistance levels raises concerns about the durability of the trend. The 22,800–22,700 zone has emerged as a strong buffer against deeper declines, while the 23,000 level, once a demand area, has now turned into a stiff resistance due to aggressive call writing and the presence of short-term moving averages. A definitive breakout from this consolidation phase will dictate the market’s next significant move.
Options Market Insights
Derivatives data reflects a bearish undertone, with call writers maintaining dominance over put sellers, signalling a cautious outlook. A substantial buildup in open interest at the 23,000-strike call (1.09 crore contracts) confirms a firm resistance zone, while strong put writing at the 22,000 strike (94.62 lakh contracts) underscores solid support at lower levels. The 23,000–23,500 range remains under intense call writing and selling pressure; while unwinding at lower put strikes and shifting to even lower levels further raise concerns about market weakness. The Put-Call Ratio (PCR) declined to 0.73 from 0.81, indicating that sellers continue to hold an upper hand despite intermittent buying attempts. Meanwhile, the ‘Max Pain’ level at 23,000 suggests that while market fluctuations persist, buyers may continue to absorb declines, providing near-term stability.
Volatility Trends
India VIX, the market’s volatility barometer, dipped 1.04% to 14.53, signalling a slight easing in risk perception. However, as long as VIX stays below the critical 15 level, volatility is expected to remain subdued, keeping sentiment cautious.
Market Outlook
Nifty continues to oscillate within a narrow range, holding key support levels while facing steady selling pressure on rallies. The 23,000 mark remains a formidable resistance, with RSI hovering below 40, enhancing the probability of an extended downward move. Additionally, the index remains below its short-term moving averages, making it vulnerable to sudden volatility spikes. The 22,800–22,700 zone remains a crucial support region, providing temporary relief. However, unless the index decisively clears the 23,000 barrier, any upward move is likely to face selling pressure due to persistent call writing and technical hurdles. Given the current market structure and prevailing uncertainties, a ‘Sell on Rise’ strategy remains favourable. Immediate resistance stands at 23,000, while key support lies at 22,700. A clear breakout beyond this range will determine the next directional trend.
Market wrap up by Mr. Osho Krishnan, Sr. Analyst, Technical & Derivatives of – Angel One
Major Indices persist with their consolidation and wrap up the week with minor losses
The Indian equity markets faced a notably subdued trading week, characterized by minimal movement and a lack of clear direction. Throughout the week, the benchmark index struggled to break free from a narrow range, reflecting a cautious sentiment. The lingering pressure from developments in the previous week significantly influenced market performance, resulting in a persistent stagnation as the index remained anchored near the lower boundary of the falling wedge pattern. As the week ended, the overall lack of enthusiasm culminated in a negative outcome, with the index sliding by 0.58 percent to settle a tad below the 22800 zone.
The benchmark index has been under pressure over the past 13 trading sessions, with the exception of a brief respite at the beginning of the week. Unfortunately, that single day of positive movement did not lead to any lasting improvements or beneficial effects on the overall market trend. Since NIFTY has been hovering around the lower band of 22900 – 22700 for the last few days and has rejected all attempts to convincingly cross the 23000 mark, the key support of 22700 seems in jeopardy. As a result, we would see it entering a crucial support zone of 22700 – 22400, where the actual litmus test lies for our markets. This scenario would likely heighten volatility and amplify concerns among investors; but we would advise traders to not get carried away and should avoid staying aggressive short in the market. Let the market decide its next course of action during the monthly expiry week. The first obstacle is located at 23000-23150, corresponding to the 20-DEMA, followed closely by 23300-23350, which marks the upper band of the wedge pattern. It is only through a decisive breach of these resistances that some relief and upward movement may be restored for market participants, potentially providing a much-needed boost to investor confidence.
In light of the shortened monthly expiry week and the prevailing global uncertainties, we can expect an uptick in market volatility. Given the current landscape, it is prudent for traders to refrain from making overly aggressive bets and to adopt a more cautious approach, maintaining lighter positions on both the bullish and bearish sides. Furthermore, the inherent vulnerabilities within the market highlight the critical importance of vigilance. Traders should proactively consider various risk management strategies to navigate the evolving conditions effectively, ensuring they are prepared for potential market shifts.
Weekly market analysis by Amol Athawale, VP-Technical Research, Kotak Securities:
In the last week, the benchmark indices witnessed range-bound activity, with the Nifty ends 0.72 percent lower while the Sensex was down by 630 points. Among sectors, the Capital Market and Metal indices outperformed, both rallying nearly 5 percent, whereas the Pharma, FMCG and Auto indices shed over 2 percent. Technically, on both daily and weekly charts, the market is still holding a lower top formation and is trading below the 20-day SMA (Simple Moving Average), which is largely negative.
We believe that the larger market texture remains on the weak side; however, we could expect a quick technical pullback rally if it succeeds in holding above 22950/76000. If it does, it could bounce back to 23100-23200/76500-76800. On the other hand, if it falls below 22720/75100, the correction wave is likely to continue. Below that level, it could slip to 22500-22400/74400-74100. Near 22400/74100, contrarian traders may prefer to take a long bet with a strict stop loss of 22320/73800.
For Bank Nifty, as long as it trades below the 20-day SMA, weak sentiment is likely to persist. Falling below this level could lead to a retest of 48500. Further downside may continue, potentially dragging the index down to 48000. However, if it rises above the 20-day SMA or reaches 49500, it could rally to the 50-day SMA, reaching levels of 50000 and 50250.
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