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Daily Technical Outlook

Nifty closed at 22498 in the previous session, gaining 38 points. The index opened on a negative note but saw a strong bullish counterattack, driving it to a positive close. Forming a sizable bullish candle signals a shift in momentum and a positive bias.

Bank Nifty settled at 47854, down 363 points. The index formed a Doji candlestick on the daily chart near the crucial 47850 support zone, signalling market indecision and hesitation in defining a clear trend.

The trend score analysis suggests a bullish outlook for Nifty, while Bank Nifty reflects a cautious bearish stance.
 

Nifty

Daily Pivots

Bank Nifty

Daily Pivots

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