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Below the Daily Market Commentary : Technical View from Hrishikesh Yedve, Asit C. Mehta Investment Interrmediates Ltd

“The Nifty index opened on a positive note, experienced both-sided volatility, and eventually settled the session on the positive note at 25,910. Technically, on the daily and weekly chart, Nifty has formed a bullish candle, indicating underlying strength. In the near term, support is placed around 25,710, aligning with the bullish gap zone. On the upside, the 26,000–26,100 band will act as a major resistance zone. Therefore, traders are advised to remain cautious at higher levels.
The Bank Nifty index opened on a negative note but witnessed strong buying interest, ultimately closing positively at 58,554. Technically, the Bank Nifty index has formed a Bullish Marubozu on the daily chart and strong bullish candle on weekly chart, signalling bullish momentum. Immediate support for the index is seen near 58,050, while resistance is placed around 58,615. A decisive breakout above 58,615 may pave the way for a move toward 59,000."

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