Short term - Technical Outlook
Bank Nifty ended the previous session lower at 60,740, giving up recent gains and forming a short-term double-top near lifetime highs, indicating profit booking alongside broader market weakness. The index also formed a bearish reversal candle below prior breakout levels, signaling relative underperformance. Immediate support is placed in the 60,500–60,300 zone, coinciding with the 20-day EMA and acting as a key demand band; this region also aligns with the previous swing highs from early January, now turned support. A decisive breach below this area could extend the decline toward 60,000–59,800. On the upside, 61,000 acts as immediate resistance, and a sustained reclaim above this level is necessary to revive recovery momentum. The RSI stands around 52, reflecting a neutral stance but with weakening undertones. Overall, the bias remains mildly negative unless the 60,500 support band holds firmly, with any renewed outperformance dependent on clear signs of stabilization amid broader market pressure.

Short term Research Report Call
Buy Above: 60800 | Targets: 60900, 61000, 61100 | Stop-loss: 60700
Sell Below: 60600 | Targets: 60500, 60400, 60300 | Stop-loss: 60700
 

Short term Chart

Short term - Technical Outlook
Bank Nifty continues to outperform the broader market, with the uptrend firmly intact. Immediate support is placed in the 60,600 zone, while a stronger demand area lies at 59,800–60,000, aligning with the rising trendline and psychological support; holding above this region keeps the ongoing rally structurally sound. On the upside, the 61,400–61,600 band acts as an immediate short-term hurdle, and a decisive breakout above this range could pave the way toward previous record highs near 61,700 and potentially higher levels. 

Short term Research Report Call
Buy Above: 60800 | Targets: 60900, 61000, 61100 | Stop-loss: 60700
Sell Below: 60600 | Targets: 60500, 60400, 60300 | Stop-loss: 60700
 

Short term Chart

The Indian stock market opened on a flat note, reflecting a cautious undertone. Escalating US–Iran geopolitical tensions, rising crude oil prices, a relatively hawkish U.S. Fed outlook, and persistent FII selling pressure are collectively reinforcing risk-off sentiment and keeping investors on the defensive in early trade.  
 

Nifty 50

Nifty 50 opened on a flat note around 25,400, reflecting a cautious undertone after recent weakness. Immediate support is placed in the 25,400–25,300 zone; a decisive breakdown below this band could extend the decline toward 25,200–25,100, which coincides with the 200-day EMA area, and potentially lower in case of aggressive selling. On the upside, 25,600 stands as the first resistance, acting as a prior support-turned-hurdle that needs to be reclaimed for stabilization. Further higher, the 25,700–25,800 zone will require a sustained breakout to restore near-term positivity. The RSI around 45–46 is flattening, indicating a lack of strong momentum and reinforcing a range-bound bias. Selective dip-buying may emerge near key supports if volatility cools, but an elevated India VIX (around 13.46+) warrants caution against sharp intraday swings.
 

Bank Nifty

Bank Nifty opened on a flat note, mirroring the broader market tone and reflecting relative weakness amid prevailing pressure. The index is hovering above the crucial 60,500–60,300 demand zone, which coincides with the 20-day EMA and remains a key support area for short-term structure. A sustained hold above this band is essential to prevent further downside. On the upside, immediate resistance is placed at 61,000–61,100, where prior price levels may act as a hurdle; a decisive reclaim is required to initiate recovery. Further higher, 61,300–61,500 stands as the next resistance cluster, which would need stronger momentum to unlock meaningful upside continuation. The RSI is in the mid-50s, reflecting a neutral stance without clear directional strength. Overall, the bias remains cautious to range-bound, with a potential rebound only if the 60,500 support zone holds firmly.