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Nifty 50 Nifty Bank Analysis for January 15, 2025
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Chanakya’s Nifty Bank & Nifty 50 Investments Analysis Stock market today live
Nifty Bank (48041)
*Trend for January 14, 2025
On Monday, Bank Nifty continued downtrend and closed at 48041, down by 693 points. On Tuesday, Bank nifty is expected to bounce back at the opening bell and then down trend will continue by after noon session or on Wednesday. The undertone is very bearish. After positive opening, bank nifty is expected to slide further
*On higher side, it is expected to move up to 48465, at the opening bell
*On lower side, it is expected to decline to 47758,
Nifty 50 (23086)
On Monday, Nifty continued downtrend and closed at 23086, down by 345.55 points. On Tuesday, nifty is expected to bounce back at the opening bell and then down trend will continue by afternoon session or on Wednesday. The undertone is very bearish. After positive opening, Nifty is expected to slide further
*On lower side, it is expected to decline to 23269, at the opening bell
*On higher side, it is expected to move up to 22975,
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Technical Analysis of the Market by Mr. Nagaraj Shetti,
Senior Technical Research Analyst at HDFC Securities
After showing sharp weakness in the last 3-4 sessions, Nifty witnessed a relief rally on Tuesday and closed the day higher by 90 points. After opening with a positive note, the market showed lackluster type movement that continued for the whole session. The opening upside gap remains unfilled.
A small positive candle was formed on the daily chart with gap up opening and with long upper shadow. Technically, this market action indicates an upside bounce in the market with lack of strength to sustain the highs.
The negative chart pattern like lower tops and bottoms is intact on the daily chart and current upside bounce could possibly open another lower top formation in the short term. On further upside, Nifty could encounter strong hurdle at the recent down gap of 13th Jan around 23350 levels.
The near-term trend of Nifty remains weak and we expect this upside bounce could be a sell on rise opportunity around 23350 levels. Immediate support is at 23050 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 last extended their losing streak for the fourth straight session, dragged by heavy selling in global equities and a spike in international crude oil prices amid persistent worries over slowing domestic corporate earnings.
On Monday, the 30-share BSE benchmark Sensex tanked 1,048.90 points or 1.36 per cent to settle at 76,330.01. During the day, it plunged 1,129.19 points, or 1.45 per cent, to 76,249.72. The NSE Nifty dropped 345.55 points, or 1.47 per cent, to close at 23,085.95. Both benchmarks closed at their lowest in about seven months.
The broader, more domestically focussed small- and mid-caps sank a steeper four per cent each, due to relatively richer valuations that could be tested if corporate earnings disappointed, market analysts said. The mid-cap index recorded its biggest slide in seven months.
Strong US jobs data erased early interest rate cut expectations, and the rupee logged its steepest single-day fall in nearly two years. Unabated foreign fund outflows also dampened investor sentiment. Investors now foresee only one rate cut of 25 basis points by the US Federal Reserve in 2025.
That lifted 10-year Treasury yields to 14-month highs and sent the US dollar rallying, making emerging markets less attractive for investment. This exacerbated foreign outflows, triggering a sharp decline in Indian markets.
Investors lost ₹24.69 lakh crore in market valuation in the last four days. In the past four sessions, Sensex tanked 1,869.1 points or 2.39 per cent. The market capitalisation of BSE-listed firms eroded by ₹24,69,243.3 crore to ₹4,17,05,906.74 crore ($4.82 trillion) in four days.
With Monday’s sharp fall in equities, the market cap of BSE-listed firms dived below the $5 trillion mark. Meanwhile, government data showed on Monday that India’s retail inflation moderated to a four-month low of 5.22 per cent in December 2024, mainly due to the easing of prices in the food basket.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty has tanked below the important and crucial support zone of 23,250-23,300 levels, weakening the trend overall and triggering a further slide, turning the bias and sentiment into a very cautious mode.”
According to Parekh, the weak global cues and the depreciating rupee value are major concerns for the Indian economy, which needs improvement to anticipate a market revival.
For Bank Nifty, the Prabhudas Lilladher stock market expert said, “Breaking the 48,500 zone, Bank Nifty has turned much weaker compared to the Nifty and has witnessed a losing streak for the fourth consecutive session”.
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For today’s outlook on the Nifty 50, Parekh said, “On the downside, the index has got the next important supports near the 22,800 level and thereafter, the base of the descending channel, which is positioned at around 22,300 zones.
On Bank Nifty, she said, “With no respite to selling pressure, the index is precariously placed and has next support zone of 47,300 and 46,700 levels, below which the overall trend would turn bearish.”
Nifty 50’s support for the day is seen at 22,850 levels, while the resistance is seen at 23,300 levels. Bank Nifty would have a daily range of 47,400-48,600 levels.
Share Market today live & Nifty Analysis by Shrikant Chouhan
Head, Equity Research Kotak Securities
Today, the benchmark indices witnessed range-bound activity; the Nifty ends 90 points higher while the Sensex was up by 157 points. Among sectors, the Metal and PSU Bank indices bounced back sharply, rallying over 3 percent, whereas the IT index lost the most, shedding nearly 2 percent.
Technically, after a gap-up open, the market hovered throughout the day between 23130/76300 and 23260/76800. It also formed a small inside candlestick formation on the daily charts, indicating indecisiveness between the bulls and the bears. We believe that the intraday market texture is non-directional, and traders are possibly waiting for a breakout on either side.
For day traders, 23260/76800 would act as a key level to watch. If the market moves above that, it could bounce back to 23400-23425/77500-77600. On the other hand, if it falls below 23130/76300, selling pressure is likely to accelerate. Below that level, the market could slip to 23000-22950/75900-75800.
Analysis by Mr. Vinay Rajani, Senior Technical & Derivative Research Analyst, HDFC Securities
Nifty broke the four sessions losing streak by rising 90 point or 0.39%, to close at 23176. NSE cash market volumes were lower by 1.75% as compared to yesterday.
Amongst the sectoral Indices, Metal, PSU Banks, Financial services gained the most while Nifty IT and FMCG were top losers. PSU Banks rallied after the news of government approving a fund-raising plan to the tune of Rs.10,000 crore for five state-run lenders through the Qualified Institutional Placement (QIP) route.
Midcap and small cap Indices outperformed Nifty where Nifty midcap 100 and small cap 100 Index gained by 2.45% and 1.98% respectively as against 0.39% gain in the Nifty. Advancing shares outnumbered the declining shares where advance decline ratio stood at 1.36. Both the indices have formed bullish “harami” candle stick pattern on the daily chart, which indicates short term bullish reversal.
After sharp fall seen in last few sessions, Nifty has formed small candle within the previous day’s move, which indicates probable change in the short-term trend. However, crossing of today’s high of 23265 would provide confirmation of further rise. Resistances for the Nifty are seen at 23340 and 23500. On the downside 23047 becomes the base for the short term below which bearish trend would resume.
Weekly market analysis by Amol Athawale, VP-Technical Research, Kotak Securities:
In the last week, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 2.4 percent lower, while the Sensex was down by 1848 points. Among sectors, the IT index outperformed, gaining over 1.9 percent, whereas the PSU Banks and Realty indices lost the most, shedding over 6 percent. During this week, the market breached the 200-day SMA (Simple Moving Average) support zone, and post-breakdown, selling pressure intensified.
Technically, it has formed a long bearish candle on the weekly charts and is holding a lower top formation on the intraday charts, which is largely negative. We are of the view that the current market texture is weak but oversold; hence, a strong possibility of a pullback rally from the current levels is not ruled out.
For short-term traders, 23600/77800 would be the key level to watch. Above this level, the pullback move could continue till 23800/78500. Further upside may also persist, potentially pushing the market up to the 200-day SMA or 24000/78800. On the flip side, if the market falls below 23350/77100, selling pressure is likely to accelerate. Below which, the market could slip to the 23250-23100/76800-76500 range.
For the Bank Nifty, the short-term formation is weak, and a pullback rally is possible only after a decisive break above 49500. If this level is surpassed, it could bounce back to the 50000-50200 range. Conversely, as long as it trades below 49600, weak sentiment is likely to continue. On the downside, 48300 and 48000 are key support zones for traders.
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