Quote on Technical Market Commentary for July 28th, 2026 by Jatin Gedia - VP, Technical Research Teji Mandi Investment Technologies Pvt Ltd
Below the Quote on Technical Market Commentary for July 28th, 2026 by Jatin Gedia - VP, Technical Research Teji Mandi Investment Technologies Pvt Ltd
Nifty opened on a positive note and then consolidated in a narrow range throughout the day, closing marginally in the red down 11 points at 23985. It formed a small bodied bullish candle with a long upper shadow suggesting selling pressure in the 24050–24100 zone. We believe that today's consolidation was on account of the July month expiry. If the Nifty manages to surpass today's high of 24041, we expect the upmove to continue towards 24150 - 24200. A failure to surpass that high could lead to a dip to fill the gap area at 23900 - 23840.
Bank Nifty was weaker compared to the benchmark and closed down 332 points at 56755. It has now retraced 50% of the 56000 - 57330 rally and is likely to resume its upmove. A failure to hold above 56500 would weaken the structure and could lead to a decline towards the rising support trendline at 56100.
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