17th Jan 2024 Stock Market Prediction for Nifty & Bank Nifty

NIFTY Prediction

Nifty opened weak, consolidated in a narrow range, and closed 65 points lower. Facing resistance at 22,000, the hourly momentum indicator signals a loss of upside momentum. Expect Nifty to consolidate between 22,000 (support zone) and 22,100 (resistance zone) in the short term. Anticipating stock-specific movements and sector rotation during this consolidation.

BANK NIFTY Prediction

Bank Nifty consolidated briefly, a pause in the overall uptrend. Anticipating momentum to continue on the upside with a short-term target of 48,300 – 48,500. Crucial support at 47,800; if breached, downside potential to 47,500.

Stock Prediction for 17 Jan 2024

STOCK Good Above Weak Below
COLPAL 2505 2475
SRF 2375 2350
TVSMOTOR 2045 2025

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