In this article, we have analyzed Nifty And Bank Nifty Prediction For Monday 23rd December 2024 | Tomorrow Nifty & Bank Nifty Prediction, for Sensex, Nifty, Bank Nifty, Midcap Nifty, and Finnifty.
Market Prediction For Monday
Market Prediction for Monday – 23rd December 2024
After Friday’s brutal sell-off, the market sentiment remains firmly under the control of sellers. Nifty plunged 364 points, closing at 23,587, reinforcing a sell-on-rise outlook. Banknifty dropped 816 points to end at 50,759, while Finnifty sank 314 points to close at 23,591. Midcap Nifty was also not spared, losing 344 points to finish at 12,683.
With the prevailing negative trend, it’s crucial to keep an eye on key support and resistance levels. Below are the levels for Sensex, Finnifty, and Midcap Nifty to help guide your trading decisions for Monday:
Nifty Prediction For Monday
Nifty And Bank Nifty Prediction For Monday – Nifty Prediction
Nifty ended 364 points lower at 23,587, reinforcing the bearish sentiment that has prevailed in recent sessions. The index has consistently failed to hold on to any intraday rebounds, suggesting that every short-term rally could attract new rounds of selling.
- Nifty Support: 23,500
- Nifty Resistance: 23,800
- Buying Area: Above 23,850
- Selling Area: Below 23,450
- No Trade Zone: 23,500–23,800
- Tentative Range: 23,200–24,000
Analysis:
Trend: Short-term sentiment remains bearish, with traders favoring sell-on-rise strategies.
Watch Out: Only a sustained move above 23,850 can hint at a meaningful recovery, but until that happens, the Nifty is likely to drift lower.
Caution: Traders should deploy strict stop-losses, given the current volatility.
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Bank Nifty Prediction For Monday
Nifty And Bank Nifty Prediction For Monday – Bank Nifty Prediction
Banknifty dropped 816 points to settle at 50,759, signaling intensifying weakness in financials. The index’s failure to hold above key support zones indicates more downside risk, especially if selling pressure continues in heavyweight banking stocks.
- Banknifty Support: 50,500
- Banknifty Resistance: 51,100
- Buying Area: Above 51,150
- Selling Area: Below 50,350
- No Trade Zone: 50,500–51,100
- Tentative Range: 50,000–52,000
Analysis:
Dominant Sellers: Major banks and financial institutions continue to drag the index lower.
Critical Level: A breakout above 51,100 might spark short-term buying, but the broader outlook stays negative unless robust buying volume emerges.
Volatility: Expect sharp intraday fluctuations as the index is prone to knee-jerk reactions in the current environment.
Sensex Prediction For Monday
Sensex Market Prediction for Monday
The Sensex witnessed a sharp drop in tandem with broader indices, indicating that large-cap stocks are also under heavy selling pressure. The index’s downward trajectory further cements the viewpoint that market-wide pessimism is dominating.
- Sensex Support: 78,700
- Sensex Resistance: 79,900
- Buying Area: Above 79,950
- Selling Area: Below 78,650
- No Trade Zone: 78,700–79,900
- Tentative Range: 78,300–80,000
Analysis:
Broad-Based Weakness: Blue-chip counters have joined the slide, raising caution for long-term investors.
Reversal Hopes: A decisive move above 79,950 could revive some buying interest, yet the broader trend remains under a cloud.
Weekly Outlook: Market participants will watch if the Sensex can defend vital support on Monday to avoid deeper correction levels.
Finnifty Prediction For Monday
Finnifty Market Prediction for Monday
Finnifty succumbed to the widespread bearish momentum, dropping 314 points to close at 23,591. Heavily reliant on the financial sector’s performance, the index may continue to see pressure if banks and non-banking financial companies (NBFCs) fail to rebound.
- Finnifty Support: 23,500
- Finnifty Resistance: 23,850
- Buying Area: Above 23,900
- Selling Area: Below 23,450
- No Trade Zone: 23,500–23,850
- Tentative Range: 23,300–24,100
Analysis:
Financial Turmoil: Finnifty mirrors weaknesses in banking and financial sectors, causing the index to trade with a negative bias.
Recovery Hurdle: Any attempt to bounce back will face significant resistance around 23,850–23,900.
Risk Management: Given its susceptibility to sectoral volatility, traders should be prepared for swift intraday swings.
Midcap Nifty Prediction For Monday
Midcap Nifty Prediction for Monday 23rd December
Midcap Nifty shed 344 points, ending at 12,683. While midcaps often show resilience, the current overarching downtrend has weighed on this segment as well, forcing selective investors to adopt extra caution.
- Midcap Nifty Support: 12,600
- Midcap Nifty Resistance: 12,900
- Buying Area: Above 12,930
- Selling Area: Below 12,580
- No Trade Zone: 12,600–12,900
- Tentative Range: 12,500–13,000
Analysis:
Slipping Strength: The index has lost its relative outperformance and now trades in line with the negative broader market trend.
Selective Buys: Any long positions should focus on fundamentally strong midcap stocks with decent liquidity.
Watch the Break: A move below 12,600 may accelerate selling, while a decisive break above 12,900 could spark short-covering.
Disclaimer:
The information provided in this market analysis of Market Prediction For 20th December 2024 is for general informational purposes only and does not constitute financial advice. We are not SEBI Registered. you may consult your Financial advisor before taking a trade.
