Nifty edged lower and lost nearly half a percent on the weekly expiry day - Religare Broking Ltd
NIFTY
* Nifty edged lower and lost nearly half a percent on the weekly expiry day.
* After a flat start, the Nifty gradually drifted lower as the session progressed and finally settled near the day’s low, around 25,355.25 mark.
* With the Nifty now hovering near its immediate and crucial support zone—marked by the 20-day exponential moving average (20-DEMA) and the upper boundary of its previous consolidation range around the 25,200–25,300 zone—it will be critical for the index to hold this level to maintain its positive bias.
* That said, with the earnings season underway, stock-specific opportunities are likely to emerge on both sides, so participants should align their positions accordingly.
BANKNIFTY
* After opening with an upward gap, the banking index experienced sustained selling pressure throughout the session, ultimately closing with a negative bias.
* Despite the decline, index managed to hold above its strong support level of 56,600, indicating that the overall trend remains positive.
* Immediate resistance is observed near the all-time high of 57,628.40.
* Barring Indusindbnk, Aubank and Axisbank all other banks were lost their momentum in the index where Canbk led the downside.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
.jpg)
