The NSE Nifty 50 is expected to remain resilient with strong support at 25,900–25,700, following the Reserve Bank of India’s surprise rate cut. Market analysts believe this support zone aligns with the bullish gap, the extended 50-day moving average, and the lower trendline of the ongoing ascending channel.
According to Bajaj Broking Finance, Nifty continues to show strength, printing a bullish candle driven by a higher high and higher low formation. This signals a consolidation phase with an upward bias, supported by renewed buying interest near the lower boundary of the two-month rising channel.
Nifty Outlook: Upside Potential Remains
Rupak De, senior technical analyst at LKP Securities, sees potential for Nifty to move toward 26,300–26,440 in the short term. He recommends maintaining a “buy on dips” strategy as long as the index trades above 26,000, which now acts as a psychological support.
Bajaj Broking also notes that the broader market structure remains constructive, and sustained bullish momentum could push the index toward higher targets in the coming sessions.
Bank Nifty: Strong Momentum After RBI Move
Bank Nifty has been outperforming the broader market, showing strong gains following the RBI’s rate reduction.
As per Osho Krishnan of Angel One:
- Support: 59,300–59,000
- Resistance: 60,000–60,300
Bajaj Broking expects the index to consolidate within 58,500–60,100 before building a base for the next move.
A breakout above Monday’s high of 60,114 could take Bank Nifty toward 60,400 and eventually 61,000.
However, analysts caution that a decisive fall below 59,500 may trigger deeper corrections toward 59,000–58,550.
Traders’ Strategy: Stay Positive, Watch Key Levels
Amruta Shinde of Choice Broking advises traders to stay constructive but disciplined.
Key levels to monitor:
- Nifty Support: 25,900–25,700
- Bank Nifty Support: 59,500 (critical)
- Resistance Zones: 26,440 for Nifty, 60,000–60,300 for Bank Nifty
A close above 60,000 in Bank Nifty or 26,300 in Nifty could reinforce bullish momentum, while failure to sustain above these levels may result in short-term consolidation.
Market Wrap
Nifty ended Friday’s session with a 0.59% gain, closing at 26,186.45, despite snapping a three-week winning streak on the weekly chart. Tech giants Wipro and Infosys led the gains for the day.
With supportive technical trends and renewed market optimism after the RBI move, the near-term outlook remains positive—though traders are advised to monitor key support levels closely.
Originally published on 24×7-news.com.
