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Nifty closed at 25,683, gaining 212 points in the previous session. On the daily chart, the index formed a bullish engulfing candle, signalling a positive bias as buyers stepped in at lower levels and pushed prices just above the 40-day EMA near 25,670. However, the upper band of Friday’s bearish island reversal gap around 25,780 remains a key hurdle. For bulls to regain firm control, a decisive close above 25,800 is essential. The daily RSI is on the verge of crossing above its reference line, and a breakout above 25,800 alongside this crossover could confirm a shift toward a stronger positive bias.
 

NIFTY

Daily Pivots

BANK NIFTY

Bank Nifty ended at 60,949, up 762 points. The index formed a bullish engulfing candle on the daily chart, indicating improving sentiment and a constructive near-term outlook.

Our trend score analysis of the Nifty and Bank Nifty suggests a bullish outlook for both benchmarks.

Daily Pivots

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