The year 2024 saw the Indian benchmark indices performing well, with the Nifty 50 and Sensex reaching new highs before a slight dip in the final quarter. However, they underperformed compared to their global counterparts like the Dow Jones, DAX, Nikkei 225, and Shanghai Composite.
In terms of sectors, pharma/healthcare and realty sectors stood out with impressive gains, while the Nifty Media index took a hit and emerged as the worst performer.
As we move into 2025, the outlook for the major indices is as follows:
Nifty 50: The short-term outlook is slightly uncertain, with resistance at 24,800-25,000. A breach of 25,000 could indicate a positive momentum. On the downside, support levels are at 23,500 and 23,000. A range of 23,000-25,000 is expected for the near future. A strong support zone lies at 23,000-22,500, with a potential rally towards 28,000-28,500 in the third quarter.
Sensex: Short-term resistance is at 82,300-82,500, with a range of 77,000-82,500 likely. Strong support is at 75,350, with a potential rise to 92,600. A breakout above 82,500 could strengthen momentum. After the rise, a correction to 88,000 is expected.
Nifty Bank: The index has been trading sideways between 49,650 and 54,470, with a positive bias for a breakout above 54,470. Support levels are at 49,650 and 49,000, with a potential rise to 58,950 after a breakout above 57,000.
Dow Jones: The Dow Jones Industrial Average saw a second consecutive year of growth but faced a sharp decline in December. Immediate support is at 41,500, with a potential bounce towards 45,000. A break below 41,500 could lead to a fall to 39,000-38,000. A breakout above 43,500 could lead to a revisit of 45,000 levels.
Overall, the outlook for 2025 suggests the potential for further upsides in the indices, with support levels and resistance zones guiding the direction of the market. It will be important to closely monitor key levels and market developments to make informed investment decisions.
