Nifty Extends Losses for Third Straight Session Amid Crude Oil Surge - Religare Broking Ltd
NIFTY
* Nifty remained under pressure on Thursday, extending their decline for a third consecutive session amid elevated crude oil prices and escalating geopolitical tensions.
* The 22,200–22,400 zone remains the key support area, while 22,900 is likely to act as immediate resistance.
* A sustained move above this level would be necessary to improve market sentiment and signal a meaningful recovery.
* Given elevated crude prices, geopolitical uncertainty and persistent weakness in broader-market participation, investors should maintain a cautious stance, focus on selective stock-specific opportunities and follow disciplined risk management.
BANK NIFTY
* The banking index extended its decline for the third consecutive session, remaining decisively below the 20 DEMA, indicating sustained bearish momentum.
* Following a weak opening, the index witnessed range-bound movement after a modest recovery attempt.
* Sectoral performance remained mixed, with Federal Bank and ICICI Bank displaying relative resilience, while HDFC Bank and YES Bank underperformed.
* Immediate resistance is positioned near 55,900, while 53,800 remains a critical support zone for traders.
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