Short term - Technical Outlook

Nifty ended the previous session with a late recovery tone, despite intraday consolidation. The index continues to hold comfortably above its 20-day EMA (26,075) and the rising short-term trendline, preserving the broader bullish structure. Momentum indicators remain supportive. RSI is placed in the 55–60 zone, indicating healthy momentum without signs of exhaustion, while MACD remains in positive territory, though the flattening histogram points toward consolidation rather than a trend reversal.

From a price-structure perspective, a sustained hold above 26,150–26,200 keeps the path open for a retest of 26,300, followed by 26,450–26,500. Immediate support is placed at 26,100–26,000, aligning with prior breakout levels and short-term moving averages—any dips into this zone are likely to attract buying interest. On the derivatives front, Put OI remains dominant at 26,000–26,100, reinforcing this area as a strong base. Call writing is visible in the 26,300–26,500 zone, marking the immediate resistance band. A decisive close above 26,300 could trigger short covering and lead to momentum acceleration. Near-term bias remains neutral to mildly bullish, favoring a buy-on-dips approach as long as 26,000 holds.
 

Short term Research Report Call

Buy Above: 26300 | Targets: 26350, 26400, 26450 | Stop-loss: 26200
Sell Below: 26100 | Targets: 26050, 26000, 25950 | Stop-loss: 26200

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 26,000–25,800 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 25,600 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: 26300 | Targets: 26350, 26400, 26450 | Stop-loss: 26200
Sell Below: 26100 | Targets: 26050, 26000, 25950 | Stop-loss: 26200
 

Long term Chart

Indian equity markets opened today’s session on a flat to mildly negative note, extending the consolidation seen in the previous session amid cautious global cues and the absence of fresh positive triggers. Early trade reflects selective profit-booking in large-cap stocks, while buying interest in pharma, IT, consumer durables, and metal stocks is providing downside support.  

Nifty 50 opened in the 26,140–26,150 zone, holding marginally above key short-term supports but yet to regain decisive momentum. The index continues to trade within its broader structural uptrend, supported by the rising long-term trendline and the 20-day EMA around 26,075–26,100. A sustained hourly close above 26,200 (previous day high) is required to signal recovery strength and open the path toward 26,300–26,350. Further clearance of the 26,250–26,300 band could revive bullish momentum toward 26,400–26,500. On the downside, immediate support lies at 26,100–26,050; as long as this zone holds, dip-buying interest is likely to emerge. A decisive break below 26,000 would increase corrective risk toward 25,900–25,800.

Bank Nifty continues to defend the critical 59,800–60,000 demand zone, which coincides with the rising trendline and a key psychological support area. Immediate upside resistance is placed at 60,200–60,400, with a stronger supply zone near 60,500. A clean breakout and sustained trade above 60,400 could trigger fresh momentum toward 60,800–61,000. On the downside, 59,600–59,400 offers strong accumulation support; a violation of this zone would elevate corrective risk toward 59,000. Technical indicators suggest healthy consolidation with a neutral bias. In the absence of sector-specific catalysts, Bank Nifty is likely to trade within the 59,800–60,400 range in early trade, supported by rotational flows between PSU and private banks. The broader bias remains mildly positive as long as 59,800 continues to hold.