Short term - Technical Outlook 

Bank Nifty continues to display underlying strength, holding firmly above the critical 59,400–59,600 demand zone. Immediate resistance is placed at 60,000–60,100, and a sustained breakout above this band could open the path toward 60,500–61,000. On the downside, a breach below 59,000 may trigger a sharper corrective phase; however, as long as 59,500 holds, the broader trend remains constructive. Momentum above 60,000 stays encouraging, with dips toward 59,900 likely to attract fresh buying. The bias remains bullish toward 60,800, supported by stable banking earnings and healthy liquidity conditions.

Banking stocks remain the backbone of the rally, supported by steady credit growth and improving liquidity conditions. As long as 59,000 holds on Bank Nifty, the long-term market trend stays firmly positive. Any near-term pullback is likely to attract renewed accumulation.

Short term Research Report Call
Buy Above: 59850 | Targets: 59930, 59980, 60050 | Stop-loss: 59750
Sell Below: 59500 | Targets: 59440, 59380, 59300 | Stop-loss: 59660

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 59,500 could provide additional support to Bank Nifty. Technically, staying above 59,000 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: 59850 | Targets: 59930, 59980, 60050 | Stop-loss: 59750
Sell Below: 59500 | Targets: 59440, 59380, 59300 | Stop-loss: 59660

Long term Chart

Nifty has opened on a soft note and is currently hovering near its crucial support zone at 26,100–26,050. As long as this band holds on a closing basis, the index can attempt a recovery toward 26,200–26,300. However, a decisive break below 26,050 could invite mild weakness toward the next demand pocket at 26,000–25,800. The broader structure remains positive, but short-term caution prevails near the lower end of the range.

Bank Nifty has opened nearly 400 points lower, testing the 59,300 region after slipping below its immediate support at 59,000. After recently outperforming and scaling above 60,000, the index has witnessed profit-booking and is now trading near its rising trendline support around 59,300-59,200. The key downside support lies at 58,750. While the index continues to trade above its key EMAs, overbought technical readings suggest limited immediate upside. From an OI perspective, strong Call writing at higher strikes is capping the upside below 60,100, while Put writing near 59,000 is providing downside stability. The index is likely to remain range-bound between 59,300–60,000 unless a decisive breakout emerges.

Indian equities have opened on a cautious but stable footing, supported by positive global cues, improving risk appetite across Asian markets, and rising expectations of an early US Fed rate cut. Cooling US inflation and easing 10-year bond yields have improved global liquidity sentiment, encouraging selective foreign inflows. On the domestic front, macro indicators remain resilient  GST collections continue to reflect strong tax buoyancy, while rural demand is gradually improving with better kharif arrivals and encouraging early rabi sowing trends. Corporate commentary, however, remains mixed. Consumer staples are seeing steady volume recovery, while cyclicals are hinting at a mild slowdown in order execution. Against this backdrop, early market strength has been tempered by selective profit-booking in heavyweight stocks, keeping the tone cautious and reinforcing the need for a stock-specific approach ahead of key macro data releases and upcoming central bank commentary.