Tomorrow’s Market Prediction (January 3, 2024):
Overall Sentiment:
- Slightly bearish: Profit-booking momentum after the recent rally and concerns about global cues might prevail.
- Volatility: Expect some fluctuations due to news and adjustments for expiry of monthly options contracts.
Specific Predictions:
- Nifty:
- Support Levels: 21,500 (psychological level), 21,419 (previous day is close), 21,297 (previous pivot point).
- Resistance Levels: 21,750 (recent high), 21,800 (psychological level), 21,950 (technical resistance).
- Bank Nifty:
- Support Levels: 47,778 (previous day is close), 47,668 (previous pivot point), 47,412 (previous day is high).
- Resistance Levels: 48,000 (psychological level), 48,234 (previous day is high), 48,365 (technical resistance).
Factors to Watch:
- Global Cues: Performance of US and European markets will set the initial tone for India.
- Expiry of Monthly Options Contracts: This might contribute to some volatility at the end of the trading session.
- FII Activity: Net selling by FIIs could exert downward pressure.
- News and Events: Any major news or events could significantly influence the market direction.
Possible Scenarios:
- Bullish Scenario: If global cues are positive and FII activity remains muted, Nifty could assess 21,750 and Bank Nifty could reach 48,000.
- Neutral Scenario: The market may oscillate within the support and resistance levels, with Nifty ranging between 21,500 and 21,750 and Bank Nifty between 47,412 and 48,000.
- Bearish Scenario: If negative news or aggressive FII selling occurs, Nifty could fall towards 21,297 and Bank Nifty could reach 47,412.
Additional Tips:
- Manage Risk: Always invest only what you can afford to lose and utilize stop loss orders to limit potential losses.
- Do Your Research: Do not solely rely on predictions. Analyse company fundamentals, industry trends, and news before making any investment decisions.

I hope this analysis provides you with a helpful starting point for your research and decision-making on January 3rd. Good luck!
Disclaimer: This information is based on technical analysis and expert opinions. It is not a guarantee of future performance.