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Nifty 50 Nifty Bank Analysis for April 25, 2024

Table of Content

Chanakya’s Nifty Bank & Nifty 50 Investments Analysis

Nifty Bank (48189):
*Major Trend: Bullish
*Trend for 25 April: Nifty Bank is expected to show negative opening on Thursday 
*On lower side, expected to decline to 48063
*On higher side, it is expected to move up to 48280

Nifty 50 (22368):
*Major Trend: Bullish
*Trend for 25 April: Nifty is expected to show nagative opening. 
*On lower side, it is expected to decline to 22365
*On higher side, expected to move up to 22458

• Reliance, Target & Stoploss
• Gold Analysis
• FII buy-Sell
• Technical Analysis 
• Calls for the Day
• Currency Analysis

Nifty Analysis by Shrikant Chouhan Head Equity Research Kotak Securities

Today, the benchmark indices witnessed range bound activity. Nifty ends 34 points higher while the Sensex was up by 114 points. Among Sectors, Metal index outperformed, rallied over 2.5 percent whereas IT index shed nearly 1 percent. Technically, from last two days the Nifty/Sensex hovering within the range of 22350/73700 to 22475/74100. However, the short-term texture of the market is still in to the positive side. We are of the view that, if the Nifty/Sensex slip below 22350/73700 then we could see one quick intraday correction till 22230-22200/7340073200. On the flip side, 22475/74100 would be the immediate breakout level for the bulls. Above which, the market could move up to 22600-22675/74500-74700. The current market texture is non-directional hence level based trading would be the ideal strategy for the day traders.

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