Short term - Technical Outlook

Nifty 50 is currently trading near the 24,500–24,600 zone, following its recent recovery and breakout above key resistance levels. From a technical perspective, a sustained breakout above 24,600 will be crucial to validate further upside towards the 24,800–25,000 levels. On the downside, the 24,400–24,300 zone now acts as immediate support, aligning with the recent breakout area and representing a previous resistance turned support. A breach below this band could lead to a pullback towards the 24,100–24,000 range, which remains a key psychological and demand zone. Overall, the index maintains a cautiously positive bias, supported by its ability to hold above key levels. However, a decisive breakout above 24,600 is essential to confirm continuation of the uptrend.

Short term Research Report Call
Buy Above: 24600 | Targets: 24680, 24750, 24840 | Stop-loss: 24520
Sell Below: 24350 | Targets: 24270, 24200, 24110 | Stop-loss: 24400
 

Short term Chart

Long term - Technical Outlook

Nifty 50 immediate and critical support zone lies around 24,000. A clear breakdown below this level may intensify selling pressure and drag the index toward 23,800 region. On the upside, the 24,600 band now acts as a key resistance area, as earlier support has turned into a barrier; a sustained move above this range is essential for near-term stabilization. Overall, the downside bias remains intact unless the index posts a decisive close above the 25,000–25,300 region.

Long term Research Report Call
Buy Above: 24600 | Targets: 24680, 24750, 24840 | Stop-loss: 24520
Sell Below: 24350 | Targets: 24270, 24200, 24110 | Stop-loss: 24400
 

Long term Chart

Indian equity markets are trading with a mildly negative bias, weighed down by sharp weakness in the IT sector. The sector has declined more than 3%, with HCLTech falling nearly 9% after subdued earnings, significantly dragging overall sentiment. At the same time, uncertainty remains elevated around the outcome of the next round of U.S.–Iran negotiations, keeping investors on edge and limiting aggressive positioning. Adding to the global backdrop, U.S. President Donald Trump is reportedly considering renewing shipping waivers to ease oil and gas prices-an outcome that could provide some relief to energy markets, although clarity remains limited. Crude oil prices continue to be volatile, while foreign institutional investor flows remain inconsistent, reacting to global cues, oil price movements and currency dynamics. Global equities are trading on a mixed to cautious note, reflecting broader uncertainty. Overall, market sentiment remains cautious with a negative bias, and near-term direction is likely to remain volatile and driven by news flow. 

Technical View

Nifty 50

Nifty 50 opened with a mild gap-down around the 24,479 mark, with early price action indicating slight weakness, although the index is attempting to hold above key support levels. From a technical perspective, the index continues to hover within the 24,400–24,600 range, maintaining its broader recovery structure while facing stiff resistance near the 24,600 level. A sustained breakout above 24,600 will be essential to extend the rally towards the 24,800–25,000 levels. On the downside, 24,400–24,300 serves as immediate support, followed by the 24,100–24,000 zone, which remains a key psychological and demand area. Opening view remains cautious to mildly weak, with a range-bound to slightly negative bias unless a decisive breakout above resistance is observed.

Bank Nifty

Bank Nifty opened on a weaker note around the 57,182 level, despite exhibiting relative strength in recent sessions supported by banking stocks. From a technical perspective, the 57,500 zone remains a critical resistance level, which has consistently acted as a supply area and capped upside momentum. A decisive breakout above this level will be required to trigger further upside. On the downside, 56,700–56,600 serves as immediate support, followed by a stronger base near the 56,000–55,800 zone. Opening view remains cautious to mildly weak, with price action likely to stay range-bound unless a clear breakout is observed.