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Nifty Outlook:

The Nifty index opened on a positive note, resumed buying interest after an initial dip, and eventually settled the session positively at 26,192. Technically, on the daily chart, the Nifty has crossed the barrier of 25,100 and formed a bullish candle, indicating strength. As long as the index holds above 25,100 levels, it will attempt to test its all-time high near 26,280, and a sustainable move above 26,280 could eventually test 26,500. On the downside, support for the Nifty is placed around 26,100 and 26,000 levels. Short-term traders are advised to stay positive as long as the Nifty holds above 26,000 levels.

Bank Nifty Outlook:

The Bank Nifty index opened on a positive note, crossed the previous all-time high, and registered a new record high of 59,440, settling positively at the 59,348 level. Technically, on the daily scale, the Bank Nifty has formed a small green candle with shadows on either side, reflecting uncertainty. Immediate support for the index is seen near 59,120, while resistance is placed around 59,500 and 60,000 levels. Therefore, traders are advised to buy near support and book profits near the resistance levels mentioned above.

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