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In the event of a bounce, the 25,300–25,450 zone will be crucial to monitor. However, a fall below the 200-day EMA could further strengthen bearish control over Nifty 50.
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After a severe correction, the market may bounce back, but sustainability will be the key factor to watch.
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Bank Nifty is exhibiting distinct relative outperformance against the broader market, largely driven by the robust momentum in PSU Banks amid strong quarterly earnings and a broad-based positive trend across the sector, said an analyst.
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Analysts say a brief pause or rebound cannot be ruled out at these levels; however, any recovery will largely depend on the performance of banking and IT stocks.
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The Nifty 50 formed a long bearish candle on the daily charts, accompanied by further weakening momentum indicators, indicating a sell signal.
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Axis Securities said that Bank Nifty is centered around the 60,000 level, which is acting as a key pivot for the current expiry
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Support for Nifty 50 is placed at 25,450; below this level, a fall toward 25,300 cannot be ruled out. On the higher side, the index may attempt to claw back above 25,600; above this, 25,700–25,800 are the levels to watch.
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Given the Nifty 50 has slipped below all key moving averages (except the 200 DEMA) and momentum indicators are weakening, a bearish to sideways trade may be seen in the next few sessions.
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Weekly options data suggest that the Nifty 50 is expected to trade in the 25,500–25,800 range in the short term.
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The Nifty 50 decisively needs to break the 25,600–25,900 range for a directional move going ahead. Until then, it is likely to trade cautiously, with a consolidative bias.
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Until the Nifty 50 decisively breaks the 25,600–25,900 range on either side, consolidation and caution may continue, experts said.
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Both private banks and PSU banks are clearly outperforming the benchmark, as reflected by fresh breakouts and rising ratio line on their respective ratio charts versus the Nifty, indicating sustained relative strength, said Sudeep Shah.
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Weekly options data indicated that the 25,800–26,000 zone is expected to act as resistance for the Nifty 50, while support is seen at 25,500.
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Analysts had suggested that 60,000 was the key breakout level, which the index has now crossed.
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According to experts, the Nifty 50 needs to break either 25,600 for a downside move toward 25,450 (immediate key support) or 25,900 for an upward journey toward 26,000, as above it the 26,200–26,300 zone can be a possible target.
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The index is expected to get a firm direction only after it convincingly breaks the 25,600-25,900 range on either side.
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Notably, volumes have picked up sharply for the first time since November 12, 2025, indicating strong participation and conviction in the ongoing move of IndusInd Bank, said Ashish Kyal.
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The weekly options data continued to suggest a broad trading range of 25,000–26,000 for the Nifty 50.
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If the Nifty 50 breaks below 25,600 (100-day EMA), a fall toward 25,450 is possible. However, a convincing move above 25,900 (50-day EMA) can open the door to the psychological 26,000 zone.
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Consolidation is expected to continue until the Nifty 50 convincingly surpasses the 25,900–26,000 hurdle.
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Weekly options data continued to suggest that the 26,000 level is expected to remain a crucial resistance, with support seen in the range of 25,700–25,600.
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The December-quarter (Q3 FY26) earnings season is widely expected to build a strong base for subsequent quarters.
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If the Nifty 50 extends its gains, the 25,900–26,000 levels will be crucial to watch in the upcoming sessions. However, immediate support is placed at 25,700.
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The formation of a Piercing Line pattern raised hopes for a continuation of the uptrend; however, momentum indicators still need to align with the bulls for a sustained market uptrend.
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Weekly options data suggest that 26,000 is expected to be a key resistance level for the Nifty 50, as it has the maximum Call open interest. On the downside, support is seen in the 25,700–25,500 range, where maximum Put open interest is placed.
