Short term - Technical Outlook

Nifty 50 remains in a post-rally consolidation, with repeated failures to sustain above the 25,800 zone indicating supply at higher levels. Key support is placed at 25,550–25,500, aligning with the prior swing base and the 20- and 50-day EMAs. Immediate resistance stands near 25,850; a sustained breakout above this level could reopen the path toward 26,000 and beyond. Momentum remains neutral, with RSI holding in the 50–55 band and MACD reflecting only mild bullish undertones. With open interest building on both sides, the index is likely to remain range-bound within 25,500–26,000 in the near term.

Short term Research Report Call

Buy Above: 25800 | Targets: 25850, 25900, 25950 | Stop-loss: 25700
Sell Below: 25650 | Targets: 25600, 25550, 25500 | Stop-loss: 25700

Short term Chart

Long term - Technical Outlook

Nifty is trading in a downtrend. On the higher side, 26,300-26,400 is emerging as a crucial resistance zone; a decisive breakout above this level could trigger further upside, opening the path toward 26,500 and potentially new lifetime highs. On the downside, strong support is identified in the 25,500–25,600 band, which is likely to act as a demand zone on pullbacks. However, a sustained breach of this support region may invite profit-booking and corrective pressure, dragging the index lower toward the 25,000 mark or even below. Overall, the technical setup favors the bulls as long as Nifty maintains strength above its support levels, with every dip presenting a buying opportunity until proven otherwise.

Long term Research Report Call
Buy Above: 25800 | Targets: 25900, 26000, 26100 | Stop-loss: 25700
Sell Below: 25700 | Targets: 25600, 25500, 25400 | Stop-loss: 25800
 

Long term Chart
 

Indian equity markets opened flat, indicating early consolidation after the sharp multi-day rally. The lack of strong follow-through buying at higher levels, despite a powerful positive catalyst, suggests near-term exhaustion. Mild profit-booking and range-bound movement are natural after such a strong run-up. However, the meaningful easing of external trade risks, sustained capex momentum, and a stable macro backdrop continue to keep the near- to medium-term outlook constructive. Market direction from here will depend on whether fresh buying emerges at current levels or indices pause to digest recent gains through time correction.

Nifty 50

Nifty 50 opened flat to marginally higher and continues to trade within yesterday’s consolidation band of 25,700–25,860. Early price action remains extremely tight, accompanied by low volumes, extending the sideways and low-conviction trade seen in the prior session. The sharp gap-up on February 3 has not yet seen convincing follow-through buying. Instead, repeated selling pressure has emerged near the 25,850–25,900 zone, preventing a sustained move higher. Immediate support is placed at 25,500–25,600, while 26,000 remains a strong psychological resistance. For today, the bias remains range-bound, with the possibility of a gradual drift toward 25,650–25,700 unless strong volumes push the index decisively above 25,900.

Bank Nifty

Bank Nifty opened flat to slightly positive near the 60,100 zone, showing relative strength compared to the broader market. Immediate support is seen near 59,800, while resistance is placed in the 60,300–60,500 band. A sustained breakout above this zone could open the path toward 61,000. The short-term bias remains neutral to mildly bullish. As long as the 60,000–59,800 support zone holds, banking stocks are likely to either lead further upside or consolidate with limited downside pressure. A decisive close above 60,300, supported by strong volumes, would confirm a resumption of bullish momentum.