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Market News:

* Bank of Maharashtra reported a strong performance in Q1 FY26, with standalone net interest income rising 17.6% year-on-year to Rs.3,292 crore from Rs.2,799 crore, and net profit increasing 23% to Rs.1,593 crore compared to Rs.1,293 crore; meanwhile, gross NPA remained stable sequentially at 1.74%.

* AWL Agri Business posted a 20.5% year-on-year rise in consolidated revenue to Rs.17,059 crore in Q1 FY26, up from Rs.14,154 crore, but EBITDA declined sharply by 41.6% to Rs.366 crore from Rs.626 crore, with operating margins contracting to 2.1% from 4.4% a year ago.

* Himadri Speciality Chemical reported a 7% year-on-year decline in consolidated revenue to Rs.1,118 crore in Q1 FY26 from Rs.1,200 crore, but EBITDA surged 27.7% to Rs.245 crore from Rs.192 crore, with operating margins improving significantly to 22% from 16% a year earlier.

Technical Summary:

The index opened on a positive note and witnessed a short-covering rally toward 25,245 during the first half of the session. However, after testing its 20-day EMA, it drifted lower and remained rangebound between 25,220 and 25,160, reflecting continued caution in the near term. On the sectoral front, Capital Markets and Auto sectors led the gains, while CPSE and Metal sectors emerged as the top laggards of the day.

Levels to watch:

The Nifty has its crucial resistance 25250 (Pivot Level) and 25500 (Key Resistance). While support on the downside is placed at 25000 (Pivot Level) and 24900 (Key Support).

What should short term traders expect?

The Index can be SHORT if it sustains below 25000 for the potential target of 24800 with stop loss of 25170 level.

Technical Data Points

NIFTY SPOT: 25217 (+0.54%)

TRADING ZONE: Resistance: 25300 (Pivot Level) and 25500 (Key Resistance).

Support: 25000 (Pivot Level) and 24900 (Key Support).

STRATEGY: Bearish till below 25300 (Pivot Level)

BANK NIFTY SPOT: 57049 (+0.50%)

TRADING ZONE: Resistance: 57300 (Pivot Level) / 57800 (Key Resistance)

Support: 56700 (Pivot Level) / 56300 (Key Support).

STRATEGY: Bullish till above 56300 (Key Support).

SEBI Registration number is INH000000081.

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