IGI Logo

Nifty

* Nifty staged a strong advance on the weekly expiry day of Nifty contracts, gaining over half a percent.

* From a technical standpoint, the Nifty has tested the 25,250 mark, aided by broad-based participation, with the banking index also crossing its hurdle at 55,000.

* We now look for a move toward 25,500 and recommend continuing with a “buy on dips” strategy, focusing on quality names across sectors.

* That said, global monetary policy decisions and trade developments are expected to drive near-term volatility, so aggressive positioning should be avoided.

Bank Nifty

* The banking index maintained its upward trajectory, consolidating strength and signaling potential continuation on the higher side.

* The 200-EMA previously acted as a robust support level, enabling a rebound, while the index now sustains comfortably above the 100-EMA, which serves as immediate support.

* Sectoral performance was mixed, with Kotak Bank, Axis Bank, and SBIN exhibiting relative strength, while AU Bank, HDFC Bank, and PNB underperformed.

* Immediate resistance is identified near 55,700, with critical support around 54,600.

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

SEBI Registration number is INZ000174330