Short term - Technical Outlook
Bank Nifty is expected to open on a relatively stable note around the 59,800–60,000 zone, sustaining resilience from the previous session and holding near the key psychological 60,000 level. The 59,500–59,800 support band, aligned with the rising trendline and key accumulation areas, remains crucial to prevent deeper retracement. On the upside, immediate resistance is placed at 60,300–60,400, with stronger supply expected near 60,500. A decisive breakout above this zone could pave the way toward 60,800. Momentum indicators reflect a consolidation phase, with RSI near 65 and MACD in neutral territory, indicating steady but non-overbought conditions.

Short term Research Report Call
Buy Above: 60200 | Targets: 60260, 60340, 60400 | Stop-loss: 60000
Sell Below: 59000 | Targets: 59840, 59740, 59640 | Stop-loss: 60000

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 60,200 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: 60200 | Targets: 60260, 60340, 60400 | Stop-loss: 60000
Sell Below: 59000 | Targets: 59840, 59740, 59640 | Stop-loss: 60000
 

Long term Chart

Nifty 50
Nifty 50 began trading around the 26,200 mark, showing early signs of recovery from supports and holding above its short-term demand zone. A sustained move and hourly close above the previous day’s high would be crucial to re-establish upside momentum and revive the broader bullish trend. Immediate resistance is placed in the 26,300–26,350 band; a decisive breakout above this zone could open the path toward 26,500 in the near term. On the downside, strong support is seen at 26,100–26,050, aligned with recent swing lows and the 20-day EMA. As long as this zone is defended, dip-buying interest is likely to remain intact. A decisive break below 26,000, however, could increase corrective pressure toward 25,900. Momentum indicators remain neutral following recent profit booking, pointing to a range-bound start unless fresh triggers emerge.

Bank Nifty
Bank Nifty opened on a relatively stable note near the 60,000 mark, consolidating after the recent pullback from highs around 60,437 to a low of 59,859. The 59,800–60,000 zone remains a crucial support area, encompassing key psychological levels and the rising trendline, and is expected to act as a buffer against deeper retracement. On the upside, immediate resistance is seen at 60,350–60,400, with a stronger supply zone near 60,500. A decisive breakout above this region could pave the way for an extension toward 61,000.