12th Jan 2024 Stock Market Prediction for Nifty & Bank Nifty



NIFTY Prediction

Within the range of 21700-21750, Nifty experienced selling pressure but managed to stabilize by closing above 21650, ultimately closing the session positively. The immediate support for Nifty has moved to 21600, and 21700 is identified as a resistance level on the technical chart. The broader support for Nifty in a positional context is situated at 21500.

BANK NIFTY Prediction

Bank Nifty had a volatile session as bulls and bears struggled. The key obstacle is at 48000 with significant call writing, and surpassing it could trigger a short-covering rally. On the downside, strong support is at 47000; breaching it may increase selling pressure.

Stock Prediction for 12 Jan 2024

STOCK Good Above Weak Below
AXISBANK 1130 1120
MUTHOOTFIN 1495 1482
POWERGRID 242 240
TCS 3752 3721

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