Short term - Technical Outlook
Bank Nifty continues to show relative strength, holding firmly above the psychological 60,000 mark. Immediate support is seen near 59,800, with a stronger support band at 59,500–59,000, coinciding with the 20- and 50-day EMAs. On the upside, resistance is placed at 60,400–60,500. RSI near 57 has flattened, indicating moderation in momentum rather than reversal. The short-term bias remains neutral to mildly bullish, with relative outperformance likely to persist as long as this divergence versus the broader market holds.

Short term Research Report Call
Buy Above: 60300 | Targets: 60400, 60500, 60600 | Stop-loss: 60200
Sell Below: 60000 | Targets: 59900, 59800, 59700 | Stop-loss: 60100

Short term Chart

Long term - Technical Outlook

Bank Nifty took support from the lower levels and is now attempting to make new highs. Holding above 60,500 could provide additional support to Bank Nifty. Technically, staying above 60,000 will help maintain a positive sentiment for the Indian market. However, a break below 59,500 could turn unfavorable for Bank Nifty and trigger weakness.

Long term Research Report Call
Buy Above: 60000 | Targets: 60100, 60200, 60300 | Stop-loss: 59900
Sell Below: 59900 | Targets: 59800, 59700, 59600 | Stop-loss: 60000

Long term Chart

Indian equity markets opened flat to slightly lower, signalling a phase of cautious consolidation after yesterday’s modest gains amid mixed global cues. Weak follow-through at higher levels and continued pressure on IT stocks-driven by global technology weakness, AI-related concerns, and lingering uncertainty over the outcome of the US–Iran talks are weighing on sentiment. Selective profit booking and range-bound trade appear natural after the recent advance. That said, improving trade relations, a recovery in the Indian rupee against the US dollar from its all-time low, and recent foreign portfolio investor activity are offering some near-term support to market sentiment.
 

Nifty 50

Nifty 50 opened on a steady note around 25,750 and continues to trade in a low-volume, low-volatility consolidation phase. The critical support zone lies at 25,500–25,600, aligning with the highest Put OI concentration and the 20- and 50-day EMAs. On the upside, the short-term ceiling remains at 25,850–25,900, marked by a strong Call OI wall. Momentum indicators are weakening, with RSI around 52 and drifting lower, while MACD has turned negative again with a shrinking histogram. Any meaningful recovery would require strong volumes and a decisive move above 25,900 to restore bullish confidence. The prevailing bias remains sell-on-rise near the 25,800–25,850 zone and buy-on-dips opportunities near the 25,500–25,600 support area, with Nifty showing a defensive tone while testing the lower end of the range.
 

Bank Nifty

Bank Nifty opened marginally higher compared to its previous close and continues to trade within a tight 60,000–60,300 range. Immediate support is placed at 59,800, while the critical support zone lies between 59,500–59,000, coinciding with the 20- and 50-day moving averages. On the upside, 60,400–60,500 remains a strong resistance area and now acts as overhead supply. Momentum indicators are losing steam, with RSI flattening and the earlier bullish MACD crossover stalling as histogram bars shrink. If broader market pressure persists, the index may drift lower towards the 58,600–58,500 zone. Overall, Bank Nifty is expected to remain cautious and range-bound in the near term.