Nifty had fallen nearly 5% from its all-time high of 26,277 as the Middle East conflict escalated, but in the past two trading days, Nifty saw some recovery from the month’s low of around 24,700 and currently, it is seeking support at the 25,000 mark, but still facing some issues and closes 36 points lower than the 25,000 mark.

Anyway, Nifty is likely turning green after a heavy selling by the FIIs, and as it slowly shows a recovery – we expect a bullish market for Monday, but as the FIIs are still bullish on the Indian Market, any upside move will see some selling pressure which will ultimately limit any bull run on the Dalal street.

For Monday, Nifty’s nearest resistance is at the 25,000 mark, which it will likely cross and follow the path toward the nearest selling zone which is at the 25,200 level which is near the 15 DEMA on the daily chart.

The nearest support for Nifty is at the 24,800 level followed by 24,700, and 24,500 marks, whereas the resistance is placed at the 25,100 followed by 25,200 and 25,400 levels.

Critical levels for Nifty on Monday are-

Nifty Support	24,800, 24,700, 24,500
Nifty Resistance	25,100, 25,200, 25,400

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Bank Nifty Prediction for Monday, 14th October 2024

Bank Nifty is also trading nearly 6% lower than all-time high levels, where it is also showing the same kind of pullback as Nifty but still as the FIIs have net short positions on Bank Nifty too, the higher price movement will be limited because of the selling pressure from the higher levels.

As seen in the chart, Bank Nifty is facing resistance from the 51,500 level which it touched 2 times in the last 2 trading days. Following this, it has the resistance placed at the 51,500 level followed by 51,700 and 52,000 levels.

Whereas for any bullish movement, Bank NIfty must sustain above the 51.700 level which is at its 50 DEMA, and most importantly the FIIs and other big players need to cover their short positions so there will be enough room for the market to grow.

Crucial Levels for Bank Nifty on Monday are,

Bank Nifty Support levels	51,000, 50,700, & 50,500
Bank Nifty Resistance Levels	51,500, 51,800, & 52,000