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Below the Technical Market Commentary for July 24 , 2026 by Jatin Gedia - VP, Technical Research Teji Mandi Investment Technologies Pvt Ltd

Nifty opened right into the gap area at 23650 and witnessed a smart intraday recovery. It closed in the negative down 102 points, but it was well off the intraday lows of 23606 suggesting buying interest at the support zone. The hourly momentum indicator has triggered a positive crossover; hence, we expect a counter trend rally towards 23870 - 23968 over the next few trading sessions. Immediate support is at 23600.

Bank Nifty bucked the trend and closed in the green up 102 points. Bank Nifty found buying interest exactly at the rising support trend line derived at by joining the previous swing lows of April and June. We expect the supmove to continue towards the 57200 - 57400 zone. Immediate support zone is placed at 56492 (200 day moving average).