Short term - Technical Outlook
Bank Nifty continues to exhibit strong relative outperformance, sustained leadership from private sector banks, along with renewed traction in select PSU banks, is supporting the index’s march toward record levels. Immediate support is seen in the 60,900–60,600 zone, which aligns with the prior breakout area and trendline support, making it a crucial demand cluster. On the upside, resistance is placed around 61,300–61,400; a decisive breakout above this band could extend the rally toward 61,800–62,000 in the near term. The overall structure remains decisively bullish, marked by a pattern of higher highs and higher lows, while the RSI near 62 reflects strong yet sustainable momentum without signaling overbought conditions. As long as the index holds above 60,600, the bias remains firmly positive with scope for continued outperformance versus the broader market.

Short term Research Report Call
Buy Above: 61200 | Targets: 61300, 61400, 61500 | Stop-loss: 61100
Sell Below: 61000 | Targets: 60900, 60800, 60700 | Stop-loss: 61100
 

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 61,300 could provide additional support to Bank Nifty. Technically, staying above 60,600 will help maintain a positive sentiment for the Indian market. However, a break below 59,700 could turn unfavorable for Bank Nifty and trigger weakness.

Long term Research Report Call
Buy Above: 61200 | Targets: 61300, 61400, 61500 | Stop-loss: 61100
Sell Below: 61000 | Targets: 60900, 60800, 60700 | Stop-loss: 61100
 
Long term Chart

Indian markets opened on a steady-to-mildly positive note, extending the recent rebound in early trade, supported by continued strength in banking and metal stocks. However, renewed selling pressure in IT counters following the prior session’s technical rebound is capping broader gains and weighing on overall index performance. The ongoing India AI Impact Summit is reinforcing structural optimism around AI, technology, and infrastructure themes, even as near-term caution persists in the IT space amid global AI disruption concerns.

Nifty 50

Nifty 50 opened steadily near the 25,760 mark, reflecting a firm undertone after two consecutive sessions of gains. Early trade suggests consolidation around the 25,750 zone as the index stabilizes just below immediate resistance at 25,800; a decisive breakout above this level is essential for fresh upside acceleration. On the higher side, 26,000 stands as a key psychological barrier, where visible call-writing activity may act as a supply zone.  Immediate support is placed at 25,600–25,550, closely aligned with the 100-day EMA and serving as a strong near-term cushion. Momentum indicators remain constructive, with RSI around 52 signaling a neutral-to-bullish bias, while MACD continues to hold a positive crossover from prior sessions. The formation of higher lows post-reversal reinforces short-term strength. Overall, the bias remains mildly positive yet range-bound, with dip-buying near support levels favored in the prevailing low-volatility environment.

Bank Nifty

Bank Nifty opened resiliently in the 61,250–61,300 zone, trading modestly higher and maintaining clear relative strength versus the broader market. Immediate support is seen near 60,900, with stronger demand expected around 60,600 on deeper pullbacks. On the upside, resistance lies in the 61,300–61,400 extension band; a decisive breakout above this zone could propel the index toward 61,800 and potentially fresh record highs. Momentum indicators remain firmly supportive, with RSI near 62 reflecting healthy bullish momentum. The ongoing pattern of higher highs and higher lows continues to validate strong buy signals. Overall bias remains positive and outperforming, with further upside favored as long as the index sustains above 61,000.