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Below the Market Commentary (closing) for 25th September 2026 by Bajaj Broking

Market Closing Commentary

Benchmark indices recovered from the day’s lows, with the Nifty rebounding 119 points from the intraday low and reclaiming the 23,100 mark. However, market sentiment remained cautious amid ongoing uncertainty around the US-Iran talks, with the benchmarks on track to record their seventh consecutive weekly decline.

The Nifty 50 closed 0.34% higher at 23,140, while the Sensex gained 0.43% to close at 73,895.

On the sectoral front, Auto, Financial Services, FMCG, Metal and Banking were the key gainers, while IT, Pharma and Media remained the major laggards.

The broader market remained mixed, with the Nifty Midcap 100 declining 0.14%, while the Nifty Smallcap 100 gained 0.15%.

Nifty

The index has formed a High Wave candle following a strong bearish candle, indicating absorption of selling pressure and rejection of lower levels. The formation suggests near-term consolidation after the recent correction. 

The ongoing pullback recovery indicates a breather after the recent decline. As long as the index holds above Friday’s low of 23,020, the recovery can extend towards the 23,281–23,350 zone, which coincides with the Thursday gap-down area and is likely to act as immediate resistance. 

A decisive breach below 23,020 would negate the recovery setup and resume the corrective move towards 22,800–22,700 in the coming sessions. 

For a meaningful trend reversal, the index needs to establish a sustained Higher High–Higher Low formation and reclaim 23,350. A sustained move above this level can signal a pause in the correction and open the upside towards the major resistance zone of 23,500–23,600. 

Key support is placed at 22,700–22,800, which coincides with the 80% retracement zone of the previous major up move from 22,183 to 24,774, making this an important support zone to monitor.

Bank Nifty 

The index has formed an Inverted Hammer candle on the daily chart, with price remaining within the previous day’s range, indicating consolidation and distribution from the higher level

The ongoing consolidation suggest a breather after the recent decline. As long as Bank Nifty sustains above 55,340, the recovery can extend towards the 55,900–56,200 zone, which coincides with the Thursday gap-down area and is likely to act as an immediate resistance zone.

A decisive breach below 55,340, the last week low, would negate the recovery setup and resume the corrective move towards 54,500–54,000, which forms a key support zone.

The 54,500–54,000 zone also coincides with the 80% retracement of the previous major up move from 52,784 to 58,706, making it an key support area.

For a meaningful improvement in the trend structure, Bank Nifty needs to establish a sustained Higher High–Higher Low formation and reclaim the immediate hurdle at 56,000. A sustained move above this level can signal a pause in the correction and open the upside towards the major resistance zone of 56,600–57,000.

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