The banking index extended its upward trajectory, approaching its all-time high levels - Religare Broking Ltd
Nifty
* Nifty delivered a strong performance on Thursday, with the Nifty 50 surging past the 25,600 mark and closing near the day’s high.
* The index opened on a positive note and maintained steady momentum throughout the session, supported by robust buying in financials.
* With Nifty having decisively crossed the 25,450 trendline hurdle, we now expect a move toward 25,670 (June 2025 high), followed by 25,800 next.
* Traders should maintain a “buy on dips” approach, focusing on sectoral rotation and strong stock-specific setups.
BANK NIFTY
* The banking index extended its upward trajectory, approaching its all-time high levels.
* It advanced for the fifth time in the past six sessions, reflecting sustained bullish momentum in the near term.
* Performance within constituents was mixed, with notable strength in Kotak bank and Axis bank, while IDFC first bank and AU bank underperformed.
* Technically, key resistance is positioned near 58,000, whereas immediate support is identified around the 56,800 mark.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
