Nifty edged lower on the weekly expiry day, with the Nifty 50 slipping 0.7% to close at 25,600 - Religare Broking Ltd
NIFTY
* Nifty edged lower on the weekly expiry day, with the Nifty 50 slipping 0.7% to close at 25,600.
* After a flat start, the index faced sustained selling pressure and gradually drifted lower through the session, eventually settling near the day’s low.
* Technically, the Nifty retested its 20-day EMA, and a sustained move below this level could weaken the positive bias, potentially extending the corrective phase toward 25,400.
* Traders are advised to align positions accordingly and maintain a strong focus on risk management until a clear directional trend emerges.
BANK NIFTY
* The banking index opened with a downside gap and remained under persistent selling pressure throughout the session.
* Despite the decline, the broader trend stays constructive as the index gradually approaches its key support at the 20-DEMA.
* Except for AUBANK and SBIN, which closed positively, all other components ended lower due to profit booking.
* Technically, the index faces immediate resistance near 58,600, while strong support around 56,800 underscores the prevailing structural strength.
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