IGI Logo

Nifty

* Nifty extended gains for the fifth consecutive session on Wednesday.

* Technically, the Nifty is inching towards the 25,250 level; however, call writers at the 25,100 strike may attempt to cap the move on the weekly expiry day.

* On the downside, the 24,800–24,900 zone now acts as a strong support.

* Participants should continue to focus on stock selection based on sectoral strength and rotation.

Bank  Nifty

* The index opened with a downside gap and maintained a weak bias throughout the session, hovered within the prior day’s range—reflecting market indecision.

* Barring Canara Bank and AU Small Finance Bank, all banking constituents closed in the red.

* 100 DEMA is providing strong support to the index and sustaining at current levels is critical to preserve upward momentum.

* The next resistance is observed near 56,600, while immediate support lies at 55,200, followed by a lower support level at 54,900.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330