Nifty opened with positive sentiment and tested an intraday high of 26,009.4 near the resistance zone of 26,021 but failed to sustain gains due to profit booking. The index eventually closed near the previous session’s level.
A small bearish candle on the daily chart suggests diminishing buying pressure and mild supply at higher levels.
Key Levels for Nifty
Immediate Support: 25,877
If broken decisively, downside targets may open towards:
-
25,803
-
25,727
-
25,651 (extended supply zone)
Immediate Resistance: 26,030–26,105
A sustained breakout above this range may push the index towards:
-
26,181
-
26,257
🏦 Bank Nifty Technical Outlook
Spot: 60,745.35
PCR: 1.12
Max CE OI: 60,000
Max PE OI: 60,000
Bank Nifty closed at 60,745.35, gaining 118.95 points (0.20%). The index moved within a 335-point range during the session, with a high of 60,779.95 and a low of 60,444.65.
Technical Structure
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Major Support: 59,030
-
Major Resistance: 61,195
-
Intraday Support: 60,653
-
Intraday Resistance: 60,838
-
RSI: 60.7 (Neutral–Positive Zone)
📈 Moving Average Positioning
Bank Nifty is currently trading above:
5, 10, 20, 30, 50, 100, 150 and 200-day SMAs.
This reflects a structurally strong trend unless key support zones are breached.
🕯️ Candlestick Pattern Observed
Two patterns were identified on the daily chart:
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Hammer
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Long-Legged Doji (in uptrend)
These patterns indicate short-term indecision but underlying support at lower levels.
🌍 Macro & Global Indicators
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Dollar Index: 96.74
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India VIX: 17.65
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Brent Crude: $69.65
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US 10-Year Yield: 4.172%
Recent U.S. nonfarm payroll data showed an increase of 130,000 jobs, while unemployment declined to 4.3%. Strong labour data has reduced expectations of immediate Fed rate cuts, prompting cautious global positioning.
Ongoing US–Iran tensions continue to influence risk sentiment, reflected in subdued volumes across index and cash segments.
📌 Trading Perspective
Given global uncertainty and narrowing participation:
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Avoid aggressive fresh positions
-
Watch support zones closely
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Wait for breakout confirmation above resistance before initiating momentum trades
Participation remains selective, and clarity may emerge over the next few sessions.
🔢 Pivot Levels for Today
Nifty
| Level | Value |
|---|---|
| S3 | 25,789.7 |
| S2 | 25,844.75 |
| S1 | 25,899.3 |
| Pivot | 25,954.35 |
| R1 | 26,008.9 |
| R2 | 26,063.95 |
| R3 | 26,118.5 |
Bank Nifty
| Level | Value |
|---|---|
| S3 | 60,198.05 |
| S2 | 60,321.35 |
| S1 | 60,533.35 |
| Pivot | 60,656.65 |
| R1 | 60,868.65 |
| R2 | 60,991.95 |
| R3 | 61,203.95 |
