Nifty and Financial institution Nifty Prediction for the week 23 Sep’24 to 27 Sep’24 by BL GURU

The rise to 25,800 on the #Nifty and 54,000 on the #NiftyBank index occurred final week in step with our expectation.

The US Federal Reserve, #usfed delivered a #50-bps charge lower final week. The central financial institution has saved the doorways open for an additional 50-bps charge lower for the remainder of the 12 months. This may have a optimistic affect on the fairness markets for a while.

On the charts, the #Nifty and #NiftyBank indices are wanting bullish. However intermediate resistances are arising which might pause the upmove for a while.

#Nifty has #resistance round 25,950. If this holds, we will see a corrective fall to 25,600-25,500. Thereafter the uptrend can resume. A break above 25,950 can take the #Nifty as much as 26,200.

#NiftyBankindex has resistance at 54,600. A corrective fall from there to 53,000-52,800 is feasible. After this corrective fall, the #NiftyBank index can rise to 55,500 and 55,700.

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