Short term - Technical Outlook

Nifty is expected to open neutral to slightly positive, continuing to oscillate within the 25,600–25,900 consolidation band. Immediate support is placed at 25,600, aligned with the 100-DMA; holding this zone keeps the near-term structure intact, while a breakdown could invite a pullback toward 25,500. On the upside, the 25,900–26,000 zone remains a strong supply area, with heavy Call OI at 26,000 acting as a key barrier; a decisive breakout could open targets toward 26,100–26,200. Momentum indicators remain cautious, with RSI hovering near 40 and MACD still in a bearish configuration. Options data indicates fresh put writing, suggesting some downside cushioning and supporting a dip-buying approach as long as the 25,600 level holds. Overall bias stays cautious, bulls are defending critical supports, but a clear trend reversal is yet to be confirmed.
 

Short term Research Report Call

Buy Above: 25720 | Targets: 25770, 25820, 25870 | Stop-loss: 25620
Sell Below: 25600 | Targets: 25550, 25500, 25450 | Stop-loss: 25700

Short term Chart

Long term - Technical Outlook

Nifty continues to trade in a structural uptrend, supported by its position above major moving averages. On the higher side, 26,300-26,350 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 26,600–25,500 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 25,300 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: 25950 | Targets: 26000, 26050, 26100 | Stop-loss: 26850
Sell Below: 25850 | Targets: 25800, 25750, 25700 | Stop-loss: 26000
 

Long term Chart

Indian equity markets opened on a cautious note today, influenced by domestic consolidation, pre-Budget positioning and mixed global cues. Continued weakness in the rupee and persistent selling by foreign portfolio investors are adding to the pressure, keeping overall sentiment guarded in early trade.

NIFTY 50 

Nifty 50 opened near 25,650 but faced early selling pressure, slipping below 25,600 and touching an intraday low of 25,528, where buying support emerged. The index is now trading sideways with a mildly cautious bias, continuing to consolidate within the broader 25,500–25,900 range. It remains below the 20-day and 50-day moving averages, reflecting muted short-term momentum. Immediate support is placed at 25,500, with a deeper demand zone at 25,400–25,300; a breakdown below this area could trigger profit booking and a further corrective phase. On the upside, 25,700 remains the first resistance, followed by the heavy supply zone near 25,900. Overall sentiment stays dip-positive for bulls as long as Nifty holds above the crucial 25,500 level.

BANK NIFTY 

Bank Nifty opened steady around 60,100 but quickly slipped below the 60,000 psychological mark. Despite this, it continues to show relative strength versus Nifty and remains structurally resilient. The index is holding above key short-term moving averages, particularly the 20-day EMA, keeping the underlying momentum intact. Immediate support is seen at 59,800–59,700, followed by the 59,600–59,500 zone, while resistance is placed at 60,100–60,200. Sentiment in banking stocks appears more constructive, with steady buying interest and potential for relative outperformance unless the broader market weakens sharply. The opening bias remains neutral, with expectations of range-bound trade between 59,600–60,000, while upside remains favored as long as the index sustains above the 59,500–60,000 support corridor.