Nifty Prediction: 📈 Market Recap: Bulls Take Charge – Tested 24,200 As Predicted
Today’s market movement confirmed our previous analysis — bulls flexed their strength, breaking key resistance levels with confidence. This reinforces a key trading truth: consistent data analysis and disciplined repetition build strong market conviction.
The share market remains a high-risk arena where knowledge separates profit from loss. That’s why we publish daily analysis — not just for predicting the next move but to help you build a deep understanding of how the market behaves.
Let’s dive into the charts, data, and technicals.
Table of Contents
Market Overview – On the Resistance now !
🔍 Nifty 50 OHLC (Up by 1.15%)
Nifty 50 ended the day with a solid 1.15% gain, clearly indicating bullish sentiment.
| Open | High | Low | Close |
| 23,949.15 | 24,189.55 | 23,903.65 | 24,125.55 |
📊 Market Breadth (Nifty 50)
| ADVANCED | FLAT (<0.25%) | DECLINES |
| 36 | 6 | 8 |
📈 Nifty Movers
| TOP GAINERS | GAIN % | TOP LOOSERS | LOSS % |
| TECHM | 5.14 % | ADANIPORTS | – 1.27 % |
| TRENT | 4.32 % | HDFLIFE | -1.12 % |
🏦 Nifty Sectoral Performance
- Overall Sentiment: Strongly Bullish
- All sectors closed in green except FMCG which declined by -0.96%.
- IT, PSU Banks, Realty, Energy, and Auto: 2%+ gains
- Pharma: +1.06%
📐 Technical Analysis – On Resistance Now!
Nifty showed no signs of retracement over the past two weeks and opened today with a bullish gap-up. It crossed the 23,800 mark with ease and closed 125 points above the psychological level of 24,000.
Key Levels:
- Support: 24000, 23870
- Resistance: 24200, 24800
📉 Price Action:
- 24,200 is a key resistance zone, tested today.
- Daily chart resembles a W-pattern with a strong bullish breakout candle.
- A pullback towards 24,000 remains likely before a potential breakout.
📈 RSI (Relative Strength Index)
- Daily RSI: At 65 – Bullish momentum, room for upside till 70.
- Hourly RSI: At 80 – Indicates short-term overheating, expect retracement to 60 level before further upside
🧮 Open Interest (OI) Data
This is the last week of Monthly Expiry.
- Support: 24000 (PE OI: 96 Lkh )
- Resistance: 24200 (CE OI: 78 Lkh )
🧮 OI Build-Up:
| Index | PRICE % | OI % | BUILDUP |
| NIFTY | 1.15% | 7.6% | Long Buildup |
| BANK NIFTY | 1.87% | 31.98% | Long Buildup |
| FINNIFTY | 1.39% | -2.59% | Short Covering |
🌐 FII & DII Data (Updated)
FII :1970 Cr. buy in Cash
DII : 246 Cr. buy in Cash
- In Nifty and Bank Nifty, FII has some selling of approx. 22,000 Cr. Which can be cause of a sideways market tomorrow.
🧠 Nifty 50 Prediction & Trade Plan
The market is clearly bullish, but today’s RSI and price structure suggest a short-term pullback may occur. If 24,000 holds, expect a consolidation range between 24,000–24,200.
If Nifty break and sustain above 24,200, a fresh rally may take it toward 24,650–24,700 in coming sessions.
📌 Pro Tip:
Avoid aggressive trades after sharp trending days. Market often enters sideways mode to trap both buyers and sellers. Capital protection comes first.
📘 Key Learning from Today’s Market
- Strong gap-ups or breakout candles above resistance zones are reliable breakout patterns.
- Volume and momentum (RSI) confirmation add credibility.
- Watch how the market reacts at major levels like 24,200 – it teaches key price behavior.
✨ Learn from the Market to Earn from the Market.
📌 Disclaimer
All financial data and market statistics referenced in this article are sourced from the official website of the National Stock Exchange of India — https://www.nseindia.com.
This content is intended solely for informational and educational purposes. It does not constitute financial advice or a recommendation to buy, sell, or hold any securities. Readers are advised to perform their own research or consult a certified financial advisor before making any investment decisions.
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