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Market Preview
Nifty extends losses; ends near 25200 zone
Nifty ended on the losing side for the second consecutive session to end near the 25200 zone with bias and sentiment slightly shaken. BankNifty witnessed heavy profit booking post the lunch session ending near the 55300 zone weakening the bias to some extent. The market breadth was weak with the advance decline indicating a ratio of 3:5 at close.

Market Forecast
Nifty daily range 25100-25400
Nifty, witnessed another day of profit booking post the lunch session which ended near the 25200 zone with bias slightly weakened and with near-term support positioned near the 25150 level, would need a revival to maintain the bias intact. With the overall bias still maintained positive, we have the major support near the 50EMA level at 24900 zone while on the upside a decisive breach above the 25500 level is necessary to establish conviction and continue with the positive uptrend in the coming days having 25700 level as the next immediate target.
BankNifty, slipped for the second consecutive session forming the lower top pattem on the daily chart almost to retest the important SOEMA zone with bias slightly shaken and would need to hold the 55000 zone to sustain the positive bias intact. As mentioned earlier, the index would need a decisive breach above 56000 zane which shall trigger for fresh upward move in the coming days to retest the previous peak zone of 57628 levels having the 54800-55000 band as the important support from current level
The support for the day is seen at 25100 levels, while the resistance is seen at 25400 levels. BankNifty would have the daily range of 54800-55800 levels.

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