NIFTY PREDICATION TODAY FOR TOMORROW

Today overview

NIFTY (21,658.60) Today market open with gap up and again expectation gap up morning on 05.01.2024. Market  taken a bounce from this support 21500 which we was discussed in last post that a ded cat bounce is expected as technical indicator was demanding on chart and same do by market today. Market strongly held at 21560 till end of the day. 

Nifty50 Trend

Nifty overall trend is bullish till  break of 21340. Today Nifty closed on 21658, as we expected market break the 21680 thereafter 21564 level and sustained 21500 level and gap up opened which was not expected by retail traders. We have correctly predicted market sentiments till date, It is only technical analysis of our expert team and benefits of professional software. Nifty is  on important area if held and sustained may make new high from this point and go more downside after if break of 21500 level.

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FII and DII CAPITAL MARKET ACTIVITY -04.01.2024

FII Derivative Market Activity -04.01.2024

Also Read : How to Predict Bank Nifty Movement in Advance?

FII and DII Impact on Market :-

Today was big fight between FII and DII as same shown in Nifty as stand in a range over day. Overall market today was positive in buy side. FII also short on all derivative position.  and there is mix up sentiments for market, tomorrow will be important for next week move, trend will be decide on 05.01.2023. extra cautions are required to take any  heavy qty trade until clear move. 

PUT CALL RATIO NIFTY FUTURE

•  PCR is near to over sold. on more about 100 points correction a bounce back is possible.

RSI ON VARIOUS TIME FRAME

RSI indicate if gap up opened on 05.01.2023, will not sustained in early, may take a dip before further move.

Also read :

NIFTY Prediction Today for Tomorrow (01.02.2024) | Nifty Predication Today

HIGHER OPEN INTEREST 

Dow Jones Industrial & Wall Street prediction:-

 Dow Jones today trading up on about 190 points at near about resistance area of 37785, if resistance break may more rise upto 37883. Overall Global sentiment is green. Dow Jones important support is 37206.  while break 37450 may see more panic in dow jones. 

SUPPORT AND RESISTANCE FOR INTRADAY (04.01.2024) :-

Nifty last closed on 04.01.2024 on 21,658 and on 04.01.2024 and above 21671 may hit 21733.  on break support of 21,500 will you see more fall in intraday about 70-80 points. Further 21412 to 21384  is also important support. Now 21671and 21733 are resistance for Intraday,  so plan your trade accordingly :

NIFTY Support         21,500 – 21412 and Major Support 21384

NIFTY Resistance     21671 – 21733 -21830

Strategy for Next day (05.01.2024) 

 We will buy is sustained above 21733 and short below 21567 and in between we will wait and watch for examine the strength of Nifty either upside or downside.We will not be hurry to take any trade on Friday. one side may be expected.  We will also follows 30 min range of  first half  and avoid any trade if in range of 30 Min. 

Niftypredictiontoday.com

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Nifty50  15 Min Chart

Niftypredictiontoday.com

Banknifty Trend

BANKNIFTY (48195) Today Banknifty gap up open and given continued upside move, all banks was performed very well and sustained today near about resistance of 48296. on 05.01.2023  if gap up open my once try to retest resistance, which will be good opportunity to buy. Short below 48056 only for intrady. clear upside move only above 48296. if now break 47810 may see more panic. Please plan your trade accordingly. 

Banknifty 15 Min Chart

(Disclaimer- this information is only for education purpose , please consult your financial advisor to take any trade)

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By Moneyalexa

On Jan 4, 2024