Nifty and Bank Nifty Prediction for the week 20 Jan’25 to 24 Jan’25 by BL GURU

Indian markets recovered last week. But that recovery seems to lack strength which is evident from Friday’s turnaround. On the charts, the short-term picture is still weak.

Nifty and the Nifty Bank index can fall more from here. However, as we mentioned last week, Nifty is coming close to a strong long-term support which can halt the current fall. So, we reiterate that further fall from here is going to give us a very good buying opportunity.

All eyes are now on Trump’s inauguration on Monday. Lets see what he has on his plate for the markets.

Nifty can test its support at 22,850 and can extend the fall to 22,500-22,400. This 22,500-22,400 is a strong long-term support zone for the nifty50 which can halt the fall. We expect the long-term uptrend in the Nifty to resume from here. So, as the Nifty falls to 22,500, don’t panic, make it as a good buying opportunity.

Nifty Bank index looks vulnerable to break its support at 48,000 and fall to 47,000-46,800. Thereafter a bounce to 49,000-49,500 is possible.

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