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Published on 03-12-2025 10:19 am

* Intraday Rational:

* Trend- Higher-high and Higher-low pattern for three-consecutive week.

* Levels Buy on declines near 61.8% retracement of last 2 days move (59265-60353

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Published on 03-12-2025 10:18 am

Technical Outlook:

* The index opened with a negative gap and, despite an initial rebound, faced renewed selling pressure near the previous session’s low. This dragged the index below its intraday low, leading to a close near the day’s bottom. Consequently, the daily price action formed a bearish candle with a prominent upper shadow, indicating persistent supply at higher levels.

* Bank Nifty continues to undergo a healthy retracement following a sharp two-week rally of nearly 2,950 points, which pushed the Stochastic indicator into overbought territory on the monthly time frame. The current sideways-to-downward corrective structure has brought the index closer to its previous swing low (58900), which aligns with the 20-day EMA, creating a strong confluence of support Given this backdrop, traders are advised to avoid aggressive long positions at elevated levels. Instead, a buy-on-dips approach is preferred to accumulate fundamentally strong banking names, particularly those that delivered robust Q2 earnings. Immediate support is placed near 58,600, which also coincides with the 50% retracement of the recent upmove from (57157-60114)

* Historically, in the past two decades, there have been 17 instances where Bank Nifty delivered double-digit gains within four months after a decisive breakout above its previous two-month high. The current structure has once again confirmed such a breakout surpassing both the prior two-month high and the previous all-time peak (57,628), indicating a high-probability continuation setup for sustained upside momentum in the months ahead..

* The PSU Bank Index has been a notable outperformer, maintaining a 13-week higher-high, higher-low formation amid strong Q2 earnings, rallying ~1,850 points (+27%). The steep run-up has pushed stochastic indicators into overbought territory on weekly and monthly charts, raising odds of a near-term consolidation. Nevertheless, pullbacks should be viewed as accumulation opportunities, with strong support around 7,900, aligning with the 38.2% retracement of the 6,730–8,665 rally and the 50-day EMA.

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Published on 03-12-2025 10:18 am

Nifty Bank : 59273

Technical Outlook

Day that was:

Bank Nifty declined for the second straight session, settling at 59,273, down 0.68%. In contrast, the Nifty PSU Bank index showed relative resilience with a mild decline of 0.25%

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Published on 03-12-2025 10:15 am

* Intraday Rational:

* Trend- Lower-high lower-low structure retraced back to 20-day EMA key support coinciding with rising channel support

* Levels: Buy around last Wednesday gap-area (26085)

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Published on 03-12-2025 10:14 am

Key Monitorable for the next week:

* US and India Tarde Deal: Anticipation of nearing closure of the US and India trade deal continued to buoy sentiment. A favourable outcome could accelerate the positive momentum and attract renewed FII’s inflow.

* RBI Policy

* Brent Crude Oil: Brent Crude: Expect Brent crude to extend decline and head towards lower band of past seven months consolidation range 75-58

* Indian Rupee: Indian Rupee has depreciated and trading around 89.40. Further decline in rupee could temper market sentiment

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