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Published on 25-09-2026 10:14 am

BANKNIFTY

* The banking index witnessed sharp selling pressure, declining 1.96% and breaching its previous swing-low support.

* A significant gap-down opening was followed by sustained selling throughout the session, confirming persistent bearish momentum.

* All constituents closed in negative territory, with AU Bank and IDFC First Bank leading the decline.

* The index remains under pressure, with immediate resistance placed near 56,300, while crucial support is positioned around 54,400

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Published on 25-09-2026 10:13 am

NIFTY

* Nifty came under sharp selling pressure on Thursday and declined over one and a half percent, weighed down by a combination of domestic and global factors.

* From a technical perspective, the decline pushed the Nifty below the June month low of 23,070, while the banking index also witnessed noticeable selling after displaying relative strength earlier.

* Going ahead, the current setup indicates the possibility of further decline towards the 22,400–22,600 zone, with the 23,300 level likely to act as the immediate hurdle and 23,600 remaining the major resistance.

* With the market already extending its recent corrective phase, volatility is likely to remain elevated, warranting a selective approach toward stock-specific opportunities and adding shorts aligned with the market trend.

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Published on 25-09-2026 10:12 am

Nifty

Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative. Nifty closed at 23063 with a loss of 384 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 23040 level it would witness selling which would lead the index towards 22950-22900 levels. However if index crosses above 23200 level it would witness pullback rally which would take the index towards 23260-23350

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Published on 25-09-2026 10:11 am

Intraday Rational :

• Trend - Prolongation of consolidation around 52 weeks EMA

• Levels: Sell around 50%-61.8% retracement level, of Thursday decline

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Published on 25-09-2026 10:10 am

Technical Outlook :

• The index opened with gap-down action and, remained southward and closed near the low point of the day. Consequently, the daily price action formed a bear candle with lower high lower low, indicating corrective bias.

• Index breached last two weeks low around 55700 and formed lower high lower low indicating weakness. Bias remains corrective as long as it closes below previous session high. On higher side 56,700 is resistance to watch out for being 200-day EMA.

• Immediate support is placed around 54200 levels a crucial support area. This zone aligns with the 80% retracement level of the June rally, spanning from 53,027 to 58,706.

• The PSU Bank Index formed bear candle with lower high lower low indicating extended consolidation. Going ahead, holding 8150 will lead to pullback towards 8600 levels being 61.8% retracement of current decline.

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