Nifty Rebounds After Weak Start on Buying at Lower Levels - Religare Broking Ltd
NIFTY
* Nifty staged a recovery on Monday after a weak start, with benchmark indices rebounding from their intraday lows as buying emerged at lower levels.
* A decisive recovery above the 20-DEMA, currently around 22,850, could extend the rebound towards the 23,100–23,300 zone.
* Conversely, a breakdown below this level could expose the index to further weakness towards the 21,700–22,200 zone.
* Given the fragile market structure and persistent macroeconomic uncertainties, traders should remain selective, avoid aggressive leverage and maintain disciplined risk management.
BANK NIFTY
* The banking index ended marginally higher on Monday, snapping a four-session losing streak, but continued trading below its 20-DEMA, indicating persistent bearish pressure.
* Despite initial selling, the index staged an early recovery and sustained positive momentum.
* Sectoral participation remained mixed, with Kotak Bank and Union Bank outperforming, while AU Bank and IDFC First Bank weakened.
* Immediate resistance is positioned near 55,200, while crucial support remains around the 53,000 zone.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ00017433
