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Nifty Outlook:

Technically, on the daily chart, the Nifty index has formed a bearish candle near its previous all-time high, indicating profit booking at higher levels. As long as the index remains below 26,280, selling pressure is likely to persist. A decisive breakout above 26,280 will be essential to pave the way for an upside move toward 26,500–26,800. In the near term, the 21-DEMA, placed around 25,800, and the bullish gap support near 25,710, will act as strong support zones. Sustaining below 25,710 may open the gates for fresh downside.

Bank Nifty Outlook:

Technically, on the daily chart, the Bank Nifty index has formed an Evening Star candlestick pattern, while on the weekly scale it has formed a Shooting Star candle-both highlighting strong selling pressure at higher levels. As per the candlestick setup, as long as Bank Nifty remains below 59,440, traders are advised to book profits on pullbacks. A decisive breakout above 59,440 may trigger a rally toward the 60,000 mark. On the downside, 58,580 will act as the immediate support, followed by the 34-DEMA, which is currently placed near 57,740.The RSI on the daily chart is above the midpoint, but it is on the verge of forming a negative divergence, indicating possible loss of momentum.

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