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Nifty closed at 24,039 on Friday, losing 207 points. On the daily chart, it formed a bearish candle with a lower shadow, signalling buying interest near 23,850—a key support zone marked by the bullish gap area (23,872–23,903) and a previous resistance turned support, in line with the principle of polarity.

Meanwhile, the Bank Nifty was down 537 points and ended at 54,664. The index also formed a bearish candle with a lower shadow, reflecting demand near the crucial support zone of 54,400—a confluence of the bullish gap (54,400–54,675), the Sept’24 swing high, and the 23.6% Fibonacci retracement of the Apr’25 rally (49,157–56,099), placed near 54,497.

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

Kindly refer to the attached report for a detailed analysis, including pivot levels, key metrics, and a list of gainers and losers.

Nifty

Daily Pivots

Bank Nifty

Daily Pivots

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