Stock Market Predictions for Tomorrow 25 April 2023: Today, the Indian stock market has given a much-awaited breakout, with the Sensex closing above the 60000 mark after a few sessions of consolidation. For the past few sessions, the Nifty and Bank Nifty have also traded sluggishly, testing the patience of investors.
The benchmarks traded in a narrow range throughout the last week. But, as expected, both the Nifty (17,743.40) and Bank Nifty (42,635.75) broke out of the consolidation zone finally. Nifty gained 119.35 points or 0.68% and Bank Nifty 517.75 points or 1.23%. Financials took the lead and propelled the Indian equity market higher.
Fresh buying after the strong Q4 results of Icici Bank and Reliance brought back enthusiasm and confidence among buyers. Also, ahead of the monthly F&O expiry, short sellers reduced positions in the market.
Today we have seen a few buying activities in the broader market as well. Nifty Midcap and Nifty Small cap indices were up by 0.39% and 0.59%, respectively.
Nifty and Bank Nifty Movement of the Day
| Index Value | Change | Percentage Change | Open | High | Low |
| 17,743.40 | 119.35 | 0.68% | 17,707.55 | 17,754.50 | 17,612.50 |
| 42,635.75 | 517.75 | 1.23% | 42,469.95 | 42,714.15 | 42,269.10 |
Since the beginning of the day, both the Nifty and Bank Nifty moved in an uptrend after the gap-up opening. Today, Nifty 50, and Nifty Bank closed at 17743.4 and 42635.75, respectively. The Nifty gained 119.35 points or 0.68%. But, the Banknifty ended the day, gaining 517.75 points, or 1.23%.
Despite the initial volatility crippling the market, the benchmark indices kept on making highs and closed at the high points of the day.
Top Nifty 50 Gainers of the Day
| Company Name | Stock Price | Change | % Change |
|---|---|---|---|
| HDFC Life Insurance Company Ltd | 547.55 | 34.25 | 6.67% |
| Tata Consumer Products Ltd | 732.55 | 32.15 | 4.59% |
| Wipro Ltd | 377.95 | 9.90 | 2.69% |
| Titan Company Ltd | 2,629.55 | 61.25 | 2.38% |
| ICICI Bank Ltd | 904.75 | 19.10 | 2.16% |
| State Bank of India | 554.6 | 11.45 | 2.11% |
| Axis Bank Ltd | 882.3 | 18.10 | 2.09% |
| Hero MotoCorp Ltd | 2,501.05 | 41.70 | 1.70% |
| Grasim Industries Ltd | 1,689.3 | 27.35 | 1.65% |
| Adani Ports & Special Economic Zone Ltd | 671.3 | 9.70 | 1.47% |
Top Nifty Bank Gainers of the Day
| Company Name | Stock Price | Change | % Change |
|---|---|---|---|
| IDFC First Bank Ltd | 58.25 | 1.80 | 3.19% |
| ICICI Bank Ltd | 904.75 | 19.10 | 2.16% |
| Bank of Baroda | 180.20 | 3.75 | 2.13% |
| State Bank of India | 554.60 | 11.45 | 2.11% |
| Axis Bank Ltd | 882.30 | 18.10 | 2.09% |
| Punjab National Bank | 49.25 | 1 | 2.07% |
| Federal Bank Ltd | 132.10 | 1.10 | 0.84% |
| HDFC Bank Ltd | 1,688.15 | 13.55 | 0.81% |
| Kotak Mahindra Bank Ltd | 1,897.25 | 3.60 | 0.19% |
Nifty prediction for tomorrow 25 April 2023
Views: Buy on dips or play the momentum
If the Nifty continues to maintain a level above 17700, it’s likely to remain bullish. However, if the Nifty trades below this level, it may indicate a bearish trend.
To capitalize on potential buying opportunities, traders may consider initiating buy positions in the Nifty on any dip toward 17000. It is advisable to maintain a stop loss at 17680 to mitigate risks.
On the other hand, for those eyeing a potential sell-off, initiating sell positions below 17000 could be a viable strategy. Another strategy will be to sell on a rise near 17800 keeping a proper stop loss above 17800 as per the entry and risk.
| Nifty Upside Levels | ||
| 17800 | 17840 | 17920 |
| Nifty Downside Levels | ||
| 17650 | 17580 | 17530 |
Bank Nifty prediction for tomorrow 25 April 2023
Views: Buy on dips or play the momentum
While the Bank Nifty trades above 42550, the sentiment will be bullish. For further bullishness to continue, it has to sustain above 42700, which is the zone of multiple previous resistances. The overall outlook for Banknifty is bullish for tomorrow, as it has successfully overcome all the hurdles encountered in the last two months.
Though selling in the Bank Nifty will be quite riskier than the Nifty, one can try in the range of 42900-43000. But one must keep strict stop loss as Finnifty expiry will be on the cards tomorrow.
Nifty Bank Upside and Downside Levels for Tomorrow
| Banknifty Upside Levels | ||
| 42800 | 42920 | 43100 |
| Banknifty Downside Levels | ||
| 42550 | 42370 | 42100 |
Conclusion
The Indian stock market saw a breakout today from a tight consolidation zone. So, the bullish momentum may continue tomorrow as well. To make profitable trades, one can initiate a good trading plan for tomorrow with a “buy on dips” strategy. Also, the closing of the U.S. market today may impact the opening tomorrow. Overall, it’ll be an opportunity to buy if Nifty and Bank Nifty decline tomorrow on account of any external factor. The eyes will be on mid and small caps indexes tomorrow. These may show a high level of bullish momentum tomorrow after today’s underperformance.
Please note that all levels discussed above, including those for Nifty and Banknifty, are spot prices.
Chart Credit: Chartink
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