Short term - Technical Outlook
Bank Nifty continues to outperform, trading above its 20, 50, 100, and 200-day EMAs, reinforcing a strong bullish undertone. The 59,100–59,000 zone remains a key support aligned with the 50-day EMA. On the upside, 59,700–60,000 is a crucial hurdle; a decisive breakout above 60,000 could open the door toward 60,500 and higher. With RSI near 53, the index retains a positive bias as long as it holds above 59,000, maintaining leadership over the broader market.

Short term Research Report Call
Buy Above: 60000 | Targets: 60100, 60200, 60300 | Stop-loss: 59900
Sell Below: 59900 | Targets: 59800, 59700, 59600 | 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 60,000 could provide additional support to Bank Nifty. Technically, staying above 59,500 will help maintain a positive sentiment for the Indian market. However, a break below 58,000 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 with a gap-down after a three-day rebound, tracking weakness in global technology stocks and subdued cues from Asian markets. Sentiment was further dampened by rising concerns over a potential U.S. military intervention in Iran, which has heightened fears of a broader regional conflict and led to a cautious tone in early trade.  
Overall, the market remains event-driven and cautious, with range-bound and choppy conditions likely to persist until greater clarity emerges from the Union Budget. A recovery from the day’s lows cannot be ruled out as selling pressure moderates ahead of the Budget, while directional cues beyond the near-term consolidation phase will largely hinge on the Budget outcome. Positive signals on capex, growth, and fiscal discipline could revive interest in cyclicals, infrastructure, and defence, whereas any disappointment may extend consolidation.

Nifty 50

Nifty 50 opened with a gap-down near 25,270, slipping over 150 points from the previous close. Early trade saw consolidation in the 25,200–25,300 band, with the index holding above the crucial 25,160–25,200 zone, aligned with the 200-day EMA, which continues to act as a key support after the recent rebound. The broader structure suggests range-bound consolidation following the three-day rally; higher-low formations and yesterday’s long lower wick remain intact, indicating underlying dip-buying interest. However, pre-open weakness is capping immediate upside. Near-term resistance lies at 25,400–25,500; a sustained move above this zone is required to restore a positive bias. Intraday view: mildly negative to sideways; recovery from day’s lows is possible as selling pressure neutralises ahead of the Budget, with dip-buying preferred near supports.

Bank Nifty

The index continues to trade above key EMAs and trendline supports, even as broader market pressure persists. The 59,400–59,000 zone remains a strong demand area, providing a solid base. On the upside, 60,000–60,100 is the immediate resistance; a decisive breakout above this psychological and prior-high zone could accelerate gains toward 60,400–60,500. RSI in the 50–55 range reflects neutral momentum. Holding above 59,400 keeps the upside structure intact, with banking heavyweights likely to cushion declines and guide market direction, while the post-Budget outcome will set the next directional trend.