Today, NIfty opened at almost the same price of yesterday’s closing at about 24,832. Market was highly volatile till 10:30 AM. After that it was sideways and closed at 24,757 Which is 0.3% below the closing price of yesterday.
As we have observed and draw support (Blue line) and resistance (Red line) lines. Support at 24,750 and resistance at about 25000 is drawn based on repetitive price contain behaviours of the market.
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Market prediction for tomorrow- 29th may 2025
For the market prediction we have to first look at market trends, as from the day chart of Nifty we can easily say that from 7th April 2025 market is continuously in a bullish trend. So our trade and view about the market should be majorly bullish. For nifty prediction we can have three different scenario based on that we will talk about
- Nifty open with gap up
If the Nifty opens above today closing near about 24820 then after retracement there is a high probability that the market can show the bullish behaviour and further it can break the resistance near about 24,870 and major resistance at 25000.
- Nifty open with gap down
Probability of opening below today’s closing is low since it is already trending at support level. However, if the nifty opens 0.3%-0.5% below support level it will try to come at support level and further may show a bullish trend.
- Nifty open at today’s level
If it opens at the same level then it should spend time and can continue sideways or can break out in the afternoon.
Bottom Line
The NIfty prediction done above for different cases was assuming that gap up and gap gown is about 0.3% to 0.5%. If the Nifty opens at more than 1% above or below today’s closing then we have further need to observe the market and wait for price action signals for entry or not based on the situation.
And there is a very low probability of continuous buying and continuous selling.