Short term - Technical Outlook
Bank Nifty continues to exhibit relative strength, trading above its 20, 50, 100, and 200-day EMAs, reflecting sustained institutional participation across private and PSU banking stocks. Immediate support lies in the 60,900–60,600 zone, aligned with a rising trendline and prior breakout area. On the upside, resistance is placed at 61,400–61,500. A decisive breakout above this band could extend gains toward 61,800–62,000, potentially marking fresh highs. The index structure remains constructive, characterized by higher highs and higher lows. RSI near 59 indicates healthy momentum without entering overbought territory. As long as 60,600 holds, the broader bias remains positive, with banking likely to continue outperforming the wider market.

Short term Research Report Call
Buy Above: 61300 | Targets: 61400, 61500, 61600 | Stop-loss: 60200
Sell Below: 61000 | Targets: 60900, 60800, 60700 | Stop-loss: 61100
 

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: 61300 | Targets: 61400, 61500, 61600 | Stop-loss: 60200
Sell Below: 61000 | Targets: 60900, 60800, 60700 | Stop-loss: 61100
 
Long term Chart

The Indian stock market opened on a firm and positive note, supported by relief after the US Supreme Court struck down former President Donald Trump’s broad reciprocal tariffs, easing global trade concerns and lifting sentiment in export-oriented sectors, despite his subsequent move to invoke a 10–15% global tariff under alternative authority. However, near-term caution persists due to escalating US–Iran geopolitical tensions, including military buildup and strike threats that raise the risk of oil supply disruptions through the Strait of Hormuz, keeping crude prices firm. Overall sentiment remains constructive on trade relief and strength in banking, metal, and auto stocks, but the broader market is likely to stay range-bound and choppy with volatility until clearer global stability or decisive triggers emerge.

Nifty 50

Nifty 50 opened with a gap-up near 25,680, extending the previous session’s rebound and reclaiming its key 20-, 50-, and 100-day EMAs, signaling improving short-term strength. Immediate support is placed at 25,500–25,600; a breach of this zone could trigger a pullback toward 25,400–25,300. On the upside, 25,800 acts as the near-term resistance and key supply zone, with a breakout required for further acceleration toward the 26,000 psychological mark. Momentum indicators are turning constructive, with RSI moving above 50 and gradually rising, while MACD has flipped positive. Overall bias remains mildly positive, and sustained holding above support levels would favor continuation of the upward move.

Bank Nifty

Bank Nifty opened steady around the 61,150–61,200 zone and swiftly extended its rally toward record territory, though it encountered immediate resistance near 61,500. Immediate support is placed at 61,000–60,900, while stronger demand lies at 60,600–60,500, aligned with the rising trendline; holding above this zone keeps the broader bullish structure intact. On the upside, resistance is seen at 61,500–61,800, and a decisive breakout above this band could accelerate gains toward 62,000 and potentially fresh record highs. Momentum remains strong with a firm higher high–higher low formation and positive buy signals, keeping the bias positive as long as the index sustains above 61,000.