The Nifty 50 traded in a narrow range of just 100 points on July 01, managing to hold above the immediate support level of 25,500 but failing to surpass the resistance near 25,600. On the daily chart, the index formed an Inside Bar Doji candle, indicating indecision and a potential pause in momentum. For the uptrend to continue, the index needs to sustain above the immediate resistance of 25,600, with a strong hurdle placed around 25,800. On the downside, 25,500 remains the first line of support, followed by a stronger support zone near the 25,300 mark. Top gainers in the Nifty 50 included Apollo Hospitals, BEL, Reliance, SBI Life, and Asian Paints, while Nestle India, Axis Bank, Shriram Finance, Eternal, and Trent were among the top losers.
The Nifty 50 prediction today indicates a sideways to bullish trend. The range is between 25350 and 25700, with support at 25350-25400 and resistance at 25650-25700. Traders should monitor these crucial levels closely for potential market shifts.
Bank Nifty managed to end the session on a positive note, forming a small bullish-bodied candle with a lower wick on the daily chart, indicating buying interest at lower levels. The index needs to hold above the key support of 57,000 to maintain its positive structure. A breach below this level could trigger extended selling pressure, dragging the index towards the 56,700–56,400 zone. On the upside, immediate resistance is seen around 57,600, while 57,800–58,000 remains a strong hurdle. A decisive breakout above this zone could open the doors for a strong bullish move towards new record highs.
Today Bank Nifty prediction suggests a sideways range between 57000 and 57650, with strong support at 57100-57150 and resistance at 57600-57650. Traders should monitor these crucial levels closely for potential market shifts.
Indian equity markets ended on a flat to positive note on July 01, after trading in a sideways range throughout the session. The Sensex edged higher by 90.83 points or 0.11% to close at 83,697.29, while the Nifty gained 24.75 points or 0.10% to settle at 25,541.80. Market breadth was nearly balanced, with 1,248 stocks advancing and 1,246 declining.
The SENSEX today prediction is projected to move in a sideways to bullish range, between 83100 and 84200. Key support is expected around 83100-83200, while resistance is likely near 84100-84200. Traders should monitor these crucial levels closely, as a breakout in either direction could signal a significant market move.
Prediction is given by the Technical Research Team - Choice.
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