Nifty50 Prediction: The Nifty50 index closed at 23907.25 on November 22, 2024. The market witnessed a positive trend, with 49 of the 50 Nifty50 stocks ending in the green. As we look ahead to November 25, 2024, here’s a technical analysis of the Nifty50 index.
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Nifty50 Performance in Last Session
According to the NSE website, the Nifty50 index gained 2.39% to close at 23907.25. The market breadth was positive, with 49 of 50 Nifty50 stocks ending in green.
FII-DII Performance in Nifty50
Foreign institutional investors (FIIs) turned net sellers in the Indian stock market on November 22, offloading shares worth ₹1278.37 crore. Domestic institutional investors (DIIs), on the other hand, were net buyers, purchasing shares worth ₹1722.21 crore.
Sectoral Performance in Last Session
The Bank, Auto and Finance sectors were the top gainers in the market on November 22, 2024. On the other hand, only media sector closed in red.
Technical Analysis of Nifty50 for Next Session
The Nifty50 index is expected to face resistance at 24000, 24300, 24500 levels, while support is likely to be seen at 23820, 23700, 23530 levels. The Relative Strength Index (RSI) is currently at 75.28, indicating that the market is in a bullish zone.
Nifty 50 Prediction for Option Tomorrow
Traders are advised to remain cautious and wait for a clear direction before taking any positions. A break above 24000 levels could lead to a rally towards 24225 – 24315 levels, while a break below 23820 levels could lead to a decline towards 23775 – 23720 levels.
Nifty 50 Price Prediction
The Nifty50 index is expected to trade in a range of 24500 – 23600 levels in the short term. Traders can consider buying the index if it dips to 23600 levels, while selling if it rallies to 24500 levels.
Conclusion
The Nifty50 index is expected to witness a trending trading session on November 25, 2024. Traders are advised to remain cautious and wait for a clear direction before taking any positions.
