Short term - Technical Outlook
Bank Nifty continues to hold above the 60,900–60,600 support cluster, indicating underlying demand in the banking space. However, supply remains visible in the 61,400–61,700 region, which has limited recent advances. A sustained move above this band could allow the index to test 61,800–62,000, while a slip below 60,600 may lead to extended consolidation toward lower reference levels. Momentum indicators reflect a stable undertone within a range framework. Overall, banking is likely to influence directional cues, but price action is expected to remain confined within clearly defined technical boundaries in the near term.

Short term Research Report Call
Buy Above: 61200 | Targets: 61300, 61400, 61500 | Stop-loss: 61100
Sell Below: 60900 | Targets: 60800, 60700, 60600 | Stop-loss: 61000
 

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 61,000 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: 60900 | Targets: 60800, 60700, 60600 | Stop-loss: 61000
 
Long term Chart

The Indian stock market opened on a firm note, staging a recovery after Tuesday’s IT-led weakness and expiry-driven volatility. The rebound was supported by strength in Asian markets and an overnight recovery in US equities, along with sustained DII inflows that continue to provide a steady liquidity cushion. Intraday sentiment improved, with visible bargain hunting and broad-based buying, including a notable technical rebound in IT stocks. However, despite the stronger undertone, trading conditions remain range-bound and choppy, with volatility likely to persist until clearer global stability or fresh positive catalysts provide more decisive directional momentum.

Nifty 50

Nifty 50 opened mildly positive near 25,500 and is witnessing early consolidation in the opening hour. Immediate support is placed in the 25,400–25,300 zone, a crucial band defended in the previous session and aligned with the 200-day EMA; a breach below this range may expose 25,250 as the next cushion. On the upside, near-term resistance stands at 25,600–25,700, and a decisive breakout above this zone is required to trigger stronger upside momentum toward 25,800–26,000, which also represents a psychological and supply zone. Momentum indicators and overall price structure remain largely unchanged, keeping the short-term bias mildly positive as long as key supports hold.

Bank Nifty

Bank Nifty opened on a resilient note above 61,150, maintaining relative strength and holding firmly above its major EMAs. Strong support is positioned in the 60,900–60,600 zone, which continues to act as a key cushion on declines. Immediate resistance is placed at 61,400–61,500; a decisive and sustained move above 61,500 could open the path toward 61,800–62,000 or higher. Momentum indicators and price structure reflect a neutral-to-positive undertone, with upside favored if the index sustains above resistance. However, range-bound and choppy moves remain possible, and banking is likely to guide broader market direction. Traders should monitor support zones for dip-buying opportunities and resistance breakouts for stronger conviction.