Short term - Technical Outlook
Bank Nifty remains weaker with a cautious to bearish undertone. Daily RSI is hovering near 49, indicating a bearish crossover, while MACD, though still in positive territory, is clearly losing momentum. Immediate resistance is placed near 59,700, with near-term support at 59,200. The major support zone lies at 59,000–58,800, which coincides with the psychological mark, the 50-day EMA, and the junction of medium- and long-term rising trendlines. A decisive breakdown below this zone would increase downside risk toward 58,500. While select banking stocks continue to show relative strength, the broader banking index remains vulnerable to further pressure if overall market sentiment weakens.

Overall, the market is expected to open cautious to bearish, tracking weak global cues and persistent FII selling. Volatility is likely to remain elevated, and traders are advised to adopt a defensive approach, avoid aggressive long positions, and focus on disciplined risk management until clarity emerges on global trade developments and other issues.
 

Short term Research Report Call
Buy Above: 59500 | Targets: 59600, 59700, 59800 | Stop-loss: 59300
Sell Below: 59300 | Targets: 59200, 59100, 59000 | Stop-loss: 59500
 

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 59,800 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 59,000 could turn unfavorable for Bank Nifty and trigger weakness.

Long term Research Report Call
Buy Above: 59800 | Targets: 59900, 60000, 60100 | Stop-loss: 59700
Sell Below: 59700 | Targets: 59600, 59500, 59400 | Stop-loss: 59800
 

Long term Chart

Indian markets opened choppy and weak this morning, with early volatility reflecting fragile global sentiment. Despite Gift Nifty indicating a muted-to-positive start, risk aversion dominates as US policy uncertainty, a stronger dollar, and persistent safe-haven demand continue to weigh on emerging markets. FIIs remain heavy sellers, while Q3 FY26 earnings have turned mixed, reviving concerns over growth moderation and margin pressure across IT, financials and others. The broader tone remains cautious to bearish, with investors clearly in preservation mode rather than risk accumulation.

NIFTY 50 

Nifty opened near 25,150 with an exhaustion gap and is currently trading flat after yesterday’s sharp sell-off. The index remains technically weak, with immediate resistance placed at 25,400 and a decisive close above 25,600 required to signal any meaningful short-term recovery. On the downside, 25,000 continues to be the key psychological and structural support; a sustained break below this zone can accelerate the decline toward 24,800. While oversold conditions may trigger intermittent short-covering, the broader structure remains bearish. As long as Nifty trades below 25,600, rallies are likely to face selling pressure. Range activity between 25,100–25,600 is expected in the near term, but downside risks remain dominant if global cues deteriorate further.

BANK NIFTY 

Bank Nifty opened with a gap down near 59,100 and continues to display relatively weaker momentum compared to the broader market. Immediate support is located at 59,060–59,000, coinciding with the 50-day EMA. A decisive break below 59,000 could open the door toward 58,800–58,700, a zone that has historically acted as a strong demand area. On the upside, resistance is placed at 59,500–59,700. Only a sustained move above this band can ease immediate pressure. Until then, the index remains vulnerable to further downside, especially if Nifty weakens below key supports.