Bank Nifty needs to defend the 54,600 (near Thursday’s low)–54,400 support range for stability, which could raise hopes for a move toward 55,800–56,200. However, a fall below this support may open the door to 54,000–53,500 levels, experts said.
The Nifty 50 needs a decisive close above the psychological 24,000 zone for a move toward the 24,300–24,500 levels. However, the 23,900–23,800 range is expected to be immediate key support.
If the positive scenario plays out, the upward journey toward 23,400–23,500 cannot be ruled out, and sustaining above this zone could trigger a sharp rally. However, 23,000 is likely to act as immediate support, followed by the crucial 22,700 level.
If the Nifty 50 reclaims and sustains above 23,000, a move towards 23,400–23,500, a crucial hurdle, cannot be ruled out. However, support is placed at 22,700, followed by 22,500.
In case of further recovery, the Nifty 50 may face resistance at 22,800–23,000. However, failure to sustain could bring the index toward the immediate support zone of 22,500–22,450, followed by 22,200 as critical support.
Nifty 50 needs to witness follow-through buying interest in the upcoming sessions for a move towards the 23,000–23,200 zone, with 23,470 acting as a crucial hurdle for negating the bearish bias. However, the 22,500–22,300 zone can act as a support area.
The Nifty 50 is expected to face resistance at 22,700–22,800, followed by 23,000–23,500, which will be a crucial hurdle, as sustaining above it can boost bullish confidence. However, 22,280 (near the recent day’s low) can act as immediate key support.
The Nifty 50 is expected to face resistance at 23,000–23,200, followed by 23,500. However, immediate support is placed at 22,600, followed by the crucial support of 22,450. Meanwhile, the 53,000–53,300 range is likely to act as resistance for the Bank Nifty, followed by 54,000–54,200 as a crucial hurdle.
The 23,000–22,900 zone is expected to act as crucial support in the upcoming sessions, as a fall below this level could drag the Nifty 50 towards Monday’s low. On the higher side, the 23,500–23,600 zone may act as a hurdle.
Overall, bears continue to maintain a strong hold on the market, with the lower high–lower low structure intact.
Oversold momentum indicators, along with a bullish divergence in the RSI, signal a potential short-term recovery in the market. Hence, the Nifty 50 may face resistance in the 23,000–23,300 range, while support is placed at 22,500–22,400.
If Nifty 50 decisively breaks previous week's low, a fall towards 22,700 cannot be ruled out; however, 23,400 can act as a resistance zone.
The Nifty 50 is likely to defend the 22,900 support (Thursday's low). Above this level, the possible resistance is placed at 23,200, followed by 23,500. However, below it, 22,700 cannot be ruled out.
If the Nifty 50 decisively breaks the 23,600–23,500 zone, bears may regain control and drag the index toward the current week's low of around 23,000–22,950.
If the Nifty 50 reclaims and sustains above the 23,600–23,700 levels, a rally toward the 23,800–24,000 zone may be seen. Until then, consolidation cannot be ruled out, with support at 23,350.
In case of a further uptrend, the Nifty 50 may face resistance at the 23,500–23,700 zone, followed by 24,000, but the move may look unsustainable due to a sell-on-rally approach. Meanwhile, support is placed at the 23,000–22,950 zone.
The Bank Nifty needs to defend 53,500 for a move toward 54,700 (50% Fibonacci level), but a decisive fall below it could open the door for 53,000.
Bearish momentum indicators, along with the continuation of the lower high–lower low structure and the VIX sustaining above 21, signal further weakness. Experts expect the benchmark Nifty 50 to breach the 23,500 support and slide toward 23,000 in the upcoming sessions.
If the Nifty 50 decisively breaks 23,700, Monday's low, a fall toward 23,500–23,400 can't be ruled out. However, a convincing move above 24,300 can drive the index toward 24,500–24,700.
According to experts, a follow-up rally is needed in the upcoming sessions toward the immediate hurdle of 24,400–24,500, followed by the 24,850–25,000 zone. Until then, consolidation with range-bound trading may be seen, with immediate support at 24,000, followed by 23,700,
Momentum indicators have entered the oversold zone and a bullish divergence has been seen on the hourly charts.
According to experts, the Nifty 50 is expected to decisively break 24,300 (the previous week's support) and move down toward 24,000, while resistance is placed at 24,500–24,700.
Unless the Nifty 50 convincingly reclaims and sustains above the 200 DEMA (25,230), consolidation with range-bound trading may continue, with immediate support at 24,500, followed by 24,300 as a crucial support level.
According to experts, a rebound is possible after the sharp three-day fall, but sustainability will be key, given that bears remain in a strong position.
After sinking 1.25 percent each in the past two sessions, experts expect the bears to increase pressure on Nifty and target the 24,300–24,000 zone in the upcoming sessions, though there is a possibility of some recovery later. On the contrary, 25,000 may remain a crucial resistance level