Nifty and Bank Nifty Prediction for Tomorrow 04 Dec 2024
As per the some previous session market was trading near its resistance level and we have seen such selling pressure at the end of november month. The Indian stock market is going to witness a significant session tomorrow, driven by global trends, domestic economic data, and key technical levels. Here’s a simple analysis of Nifty and Bank Nifty, which includes the necessary support and resistance levels coupled with an overall market overview.
Nifty prediction for Tomorrow:-
- Closing Value: Nifty ended at 24457.15, up by 0.75% today, showing positive sentiment in all key sectors.
- Support Levels: Immediate support is seen at 24,300, with stronger support at near 24,000-24050. Breaking these levels could heavy selling pressure.
- Resistance Levels: Nifty may face resistance at 24500-24550. If breached, these levels could give better recovery.
- Technical Indicators:Indicators such as RSI and MACD indicate that the market may be oversold, suggesting a possible short-term recovery. However, global factors are still crucial, as the overall global market is struggling, with most levels either declining or moving sideways.
Bank Nifty prediction for Tomorrow:-
- Closing Value: Bank Nifty closed at 52,695.75, up by 1.13%, as major falling in private banking stocks.
- Support Levels: Immediate support lies at 52,500, with critical support around 52,000.
- Resistance Levels: On the upside, resistance is observed at 52,800 and 52,850.
- Technical Indicators: The chart suggests mixed signals, with moving averages supporting a cautious buy and if resistance level not sustains one can go for sell.
Key Levels for Nifty and Banknifty for Tomorrow session:-
- Nifty Strategy: For intraday traders, buying near 24,350 with a stop loss at 24,280 could be viable. Profit booking is recommended around 24,500-24550.
- Bank Nifty Strategy: Buying near 52,350 with a stop loss at 52,200 might work. Resistance around 52,850 could be a target.
- Global Sentiment: Investors should monitor global indices and crude oil movements for further cues.
Nifty and Banknifty chart analysis with levels for intraday:-
Nifty chart analaysis for tomorrow- 04 Dec 2024
Free Nifty Buy Sell signal with stop loss and realtime chart analysis-
As shown in above image you can clealy see the levels marked on the chart with trendline and support resistance.
Good support Near 24350 so if nifty holds the same one can go long near this . Once it holds the same one can go long with the target 24550-24600.
Resistance Near- 24550-24600 – Dont buy Near this as if nifty not holds this then you may see a drastically fall near 24300-24350.
Another point if market opens gap up tomorrow and if holds 24600 then you can go long with some sl near 24550 and target will be 24700.
Bank Nifty chart analaysis for tomorrow-04 dec 2024
As shown in above image you can clealy see the levels marked on the chart with trendline and support resistance.
Good support Near 52500 so if bank nifty holds the same one can go long near this . Once it holds the same one can go long with the target 52850-52900.
Resistance Near- 52850-52900 – Dont buy Near this as if bank nifty not holds this then you may see a drastically fall near 52500 -52450 and so on.
Another point if market opens gap up tomorrow and if holds 52900 then you can go long with some sl near 52700 and target will be 52950 and so on.
Disclaimer :-This chart is for educational purpose please do analysis by own before taking any trade .
