Trading Plan: Will Nifty 50 achieve 26,300, Bank Nifty reclaim the 60,000 zone?

Nifty Trading Plan for December 8

The Nifty 50 and Bank Nifty had a strong session last Friday, forming long bullish candles on the daily charts. The Nifty 50 is expected to march toward 26,300 in the upcoming sessions as long as it holds the 26,000 zone, below which 25,850 remains the crucial support. Above 26,300, 26,500 is the level to watch. Meanwhile, healthy momentum and technical indicators may help Bank Nifty reclaim the 60,000–60,100 levels, with 59,100–59,000 being the support zone, experts said.

On December 5, the Nifty 50 soared 153 points (0.59 percent) to 26,186, while the Bank Nifty climbed 489 points (0.82 percent) to 59,777, despite market breadth favouring bears. A total of 1,700 shares declined against 1,140 advancing shares on the NSE.

Nifty Outlook and Strategy

Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One

The Nifty 50 index has successfully upheld the pattern of higher highs and higher lows on the daily chart, with the 20-DEMA serving as a crucial support level, helping stabilize the index and facilitating a subsequent rebound. The bulls have exhibited a robust outlook, with market dips being promptly absorbed by buyers.

From a technical perspective, the 26,000 mark serves as a critical support zone, suggesting that further declines may positively influence market conditions. The sacrosanct support level for positional traders is situated around the 25,850 zone. On the upper end, the lifetime highs, marked by a pronounced bearish Marubozu candle, are anticipated to constrain momentum within the range of 26,300–26,325 on an intermediate basis, and a decisive breakout beyond this threshold could facilitate a transition into uncharted territory, with the potential for upward movement toward 26,500 in the forthcoming period.

Key Resistance: 26,325, 26,500

Key Support: 26,000, 25,850

Strategy: Buy Nifty Futures on dips around 26,000, with a stop-loss of 25,850, and book profit near 26,300–26,350.

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Nifty closed last week with a 17-point loss and formed a small bearish candle with a long lower shadow on the weekly chart, indicating buying support near the 20-day simple moving average (SMA). The index is currently in a short-term consolidation zone between 26,326 and 25,850. A decisive breakout above the upper boundary could lead to a resumption of the medium-term uptrend, while 25,850 is expected to provide strong support.

If Nifty sustains a move above 26,350, it may trigger renewed buying interest, pushing the index toward the 26,500–26,700 range. Conversely, if it breaks down below 26,000, selling pressure could increase, potentially dragging Nifty down to the 25,850–25,600 levels.

For the week ahead, we anticipate that Nifty will trade within the range of 26,700 to 25,600, with a mixed bias. The weekly Relative Strength Index (RSI) and Stochastic oscillators have flattened, indicating a lack of directional strength on either side.

Key Resistance: 26,250, 26,400

Key Support: 26,100, 25,950

Strategy: Buy Nifty Futures around 26,100 with a stop-loss of 25,950, targeting 26,250–26,350.

Anshul Jain, Head of Research at Lakshmishree Investments

Nifty defended its weekly structure even after posting an open-equal high at 26,325.8. The index closed in the upper third of the candle, a sign that shorts added early in the week are now caught on the wrong side. The rebound from the 10- and 20-day EMAs confirms that the recent pullback was a controlled mean reversion, not a trend break. This EMA spread has acted as a dependable launchpad, restoring a rising sequence of higher swing lows.

A push above 26,325.8 should unlock a wave of short covering toward 26,500, where the next supply pocket and prior price rejection converge. On the downside, 26,055 marks the first reaction zone, while 25,850 aligns with a broader consolidation shelf that anchors medium-term support.

Key Resistance: 26,326, 26,500

Key Support: 26,055, 25,850

Strategy: Buy Nifty Futures on a breakout above 26,325 for a target of 26,500, with a stop-loss below 26,300 post-breakout.

Bank Nifty - Outlook and Positioning

Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One

The technical structure of the heavyweight index Bank Nifty remains intact despite the recent two-way swings. The primary trend continues to point upward, and with prices once again finding support near the 20-DEMA, momentum still appears to favour buyers, especially after the RBI’s rate cut announcement. That said, the cautious stance highlighted in our earlier commentary has played out well, and given the sharp multi-month rally along with overbought readings on key technical indicators, maintaining a guarded approach remains prudent.

Looking to enter long positions on dips toward strong support zones, rather than chasing momentum at elevated levels, is likely to yield better risk–reward outcomes. In terms of levels, the 59,000 zone, aligning with the 20-DEMA, acts as immediate support, followed by a stronger support area around 58,600. On the flip side, the recent weekly high near 60,110 stands as immediate resistance.

Key Resistance: 60,100, 60,500

Key Support: 59,000, 58,600

Strategy: Buy Bank Nifty Futures on dips around 59,200–59,000 for a potential target of 60,100–60,500, with a stop-loss of 58,600.

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Bank Nifty closed with a marginal weekly loss of 25 points. On the weekly chart, it has formed a small bearish candle with a lower shadow, indicating buying support at lower levels.

The index rebounded sharply from the 20-day SMA following the RBI MPC outcome. A decisive move above the all-time high of 60,114 is necessary for the next phase of upward movement to occur, with 58,600 serving as a key support zone. A sustained break above 60,150 could trigger renewed buying interest, potentially driving the index toward the 60,500–61,000 range.

Conversely, a break below 59,500 may prompt selling pressure toward the 59,000–58,500 levels. For the upcoming week, we expect Bank Nifty to trade within a range of 61,000 to 58,500, maintaining a positive bias. The weekly RSI is trending higher and remains above its reference line, reinforcing the bullish undertone.

Key Resistance: 59,900, 60,100

Key Support: 59,500, 59,300

Strategy: Buy Bank Nifty Futures around 59,550 with a stop-loss of 59,300, targeting 59,900–60,100.

Anshul Jain, Head of Research at Lakshmishree Investments

Bank Nifty printed a fresh all-time high at 60,114 and almost mirrored an open-equal high on the weekly chart, yet bears failed to press the advantage. The index closed in the upper third of the weekly range, a clear sign that shorts added near the highs are now trapped inside Friday’s wide bullish candle.

The three-day consolidation around the daily 10- and 20-EMAs acted as a strong launchpad, restoring upward swing alignment and opening space for momentum to expand.

A move above 60,114 is likely to trigger a fresh round of short covering toward 60,500 and the higher supply shelf around 60,950. Volume patterns remain supportive, with no meaningful distribution. On the downside, 59,600 to 59,550 marks the first demand belt built from recent compression. A break below this would expose the broader structural support near 59,000.

Key Resistance: 60,114, 60,500, 60,950

Key Support: 59,600, 59,550, 59,000

Strategy: Buy Bank Nifty Futures on a breakout above 60,114 for an immediate upside of 60,500–61,000, with a stop-loss below 59,800 post-breakout.