Tag: Nifty

  • Indian Equities Rally: Sensex Climbs 862 Points, Nifty Holds Gains Amid Volatility

    Indian Equities Rally: Sensex Climbs 862 Points, Nifty Holds Gains Amid Volatility

    Market Overview

    Indian equity benchmarks traded in positive territory on July 27, 2026, with the BSE Sensex surging 862 points and the Nifty 50 posting gains despite intraday volatility. Selective buying, particularly in banking stocks, and cautious investor sentiment kept the indices in the green.

    Sensex

    The BSE Sensex closed at approximately 83,467, gaining 862 points or 1.04%. The index traded within a broad range, touching an intraday high near 83,615. From a technical perspective, the Sensex has been attempting to recover from earlier corrections, but resistance at higher levels continues to attract selling pressure. Volume activity remained healthy, indicating active participation from institutional and retail investors.

    Nifty 50

    The Nifty 50 index ended at 23,908.10, up 0.59%. The index experienced wide fluctuations, with a weak opening followed by a strong rebound to a session high before profit-booking trimmed gains. The index continues to form higher lows, a positive pattern, but frequent retracements suggest traders are not chasing prices. Key sectors such as information technology, financials, auto, and energy will determine future movements.

    Bank Nifty

    The Bank Nifty hovered around 56,990.85, gaining 297 points or 0.52%. The banking index has rebounded significantly from its lows but is currently ranging sideways, reflecting indecision among market participants. Private banks have played a notable role in the bounce. Any upside break above recent highs could boost bullish sentiment.

    Market Outlook

    Indian share markets remained firm amid volatility, supported by cautious bullish sentiment. While resistance at higher levels is evident, buyers continue to emerge on dips. Going forward, earnings announcements, foreign institutional investor (FII) flows, and macroeconomic developments will be key catalysts for market direction.

  • Indian Markets Extend Losing Streak for Fifth Day as Crude Oil Fears Bite

    Indian Markets Extend Losing Streak for Fifth Day as Crude Oil Fears Bite

    Indian equity benchmarks ended Friday’s session under heavy selling pressure, capping their fifth consecutive day of losses. Investors reacted to surging crude oil prices, escalating geopolitical tensions in the Middle East, weak corporate earnings, and continued foreign fund outflows. The bearish trend was visible across sectors, with banking, auto, and metal stocks leading the decline. The sell-off also pushed the benchmark indices towards their worst weekly performance in nearly four months.

    Overall Market Performance

    At 2:50 PM, the Sensex was down 272.00 points, or 0.36%, at 76,119.39, while the Nifty fell 81.70 points, or 0.34%, to 23,787.90. Market breadth remained negative, with 1,792 shares advancing against 1,944 declines. Broader markets also remained under pressure, with the Nifty Midcap and Smallcap indices declining as risk aversion intensified.

    The weakness was largely driven by Brent crude climbing above $100 per barrel, raising concerns over inflation, India’s import bill, and corporate profitability. Investors also remained cautious following disappointing quarterly earnings from several large-cap companies.

    Top Gainers and Losers

    While some stocks managed to post gains, the majority of sectors faced significant losses. The detailed list of top gainers and losers is available in the original report.

    Market Trends

    Friday’s decline was indicative of a risk-off scenario. The equity markets fell back as uncertainty rose following new events taking place in the Middle East. Increased oil prices were a major source of concern for Indian markets as they can potentially cause inflation, increase the trade deficit, and reduce the bottom line for businesses.

    Foreign institutional investors (FIIs) continued to reduce their positions, while the weakening Indian rupee became an additional factor causing uncertainty. Poor performance by large corporations dampened investor confidence.

    Disclaimer: This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments.

  • Indian Stock Market Ends Lower: Sensex, Nifty Fall as Banking and IT Stocks Weigh

    Indian Stock Market Ends Lower: Sensex, Nifty Fall as Banking and IT Stocks Weigh

    Indian benchmark indices Sensex and Nifty closed lower on Thursday, July 23, 2026, extending their losing streak to a fourth consecutive day. Rising crude oil prices, geopolitical tensions in West Asia, and sustained selling pressure in banking, pharmaceutical, and IT stocks dampened investor sentiment, offsetting gains in select auto and consumer sectors.

    The BSE Sensex fell below the 76,600 mark during the session, while the NSE Nifty 50 remained weak under the psychologically important 24,000 level. At 14:55 IST, the Sensex was down 517.34 points or 0.67% at 76,237.71, and the Nifty was down 167.35 points or 0.70% at 23,828.90. About 1,440 shares advanced, 2,361 declined, and 148 remained unchanged.

    Market Drivers

    Rising crude oil prices, fueled by tensions between the US, Iran, and the Red Sea region, remained the primary factor influencing investor mood. Concerns over inflation, higher import costs, and compressed corporate profitability weighed on sentiment.

    Top Gainers

    Investor interest was largely confined to automobile and industrial stocks, where companies with strong income prospects and robust domestic demand outperformed. Auto shares led the market despite the overall negative tone.

    Top Losers

    Pharmaceutical shares came under pressure after Dr. Reddy’s Laboratories reported weak quarterly results. Banks and financial services firms also faced selling. Defensive stocks like Nestlé India were among the major laggards.

    Market Trends

    Thursday’s session reinforced the cautious mood across Dalal Street. Brent crude oil prices near $96–$97 per barrel raised concerns about rising energy costs potentially fueling inflation, widening India’s current account deficit, and squeezing corporate margins. Despite the negative macro backdrop, market participants continued to focus on the earnings season, with some blue-chip results disappointing.

    What Investors Can Take Away

    The market remains influenced by macroeconomic events rather than company-specific news. Heightened geopolitical tensions and rising oil prices have prompted a risk-off stance, leading to selective buying rather than broad participation. The resilience of automobile and industrial stocks, however, indicates that investors are still willing to back sectors with strong domestic fundamentals. In the coming days, corporate results, oil price movements, and global geopolitical developments will drive market direction.

    Note: Percentage gains for some stocks were not officially disclosed in end-of-day summaries, but they featured among the session’s strongest performers.

    Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investment decisions. Financial markets involve risk, and past performance is not indicative of future results.

  • Red Sea Attacks Spark Selloff on Dalal Street: Sensex and Nifty Slump on Oil Supply Fears

    Red Sea Attacks Spark Selloff on Dalal Street: Sensex and Nifty Slump on Oil Supply Fears

    Indian equity markets ended lower on Thursday as renewed attacks in the Red Sea stoked fears of oil supply disruptions, sending crude prices higher and dampening investor sentiment. The benchmark BSE Sensex dropped 0.28% to 76,539.97, while the Nifty 50 slipped 0.21% to 23,945.30, according to TradingView data.

    The selloff was triggered by the Houthi militia’s strikes on two Saudi oil tankers in the Red Sea, following a warning from the UK Maritime Trade Operations (UKMTO) about a potential attack on a commercial vessel off the coast of Saudi Arabia. The incidents have intensified concerns over the safety of one of the world’s busiest shipping lanes, raising the specter of prolonged disruption to global oil flows.

    Crude Oil Surge Puts Pressure on India’s Economy

    Geopolitical instability pushed Brent crude near the $96-per-barrel mark, while West Texas Intermediate (WTI) crude hovered above $88 per barrel. For India, which imports the majority of its crude oil requirements, higher prices are expected to widen the import bill, stoke inflationary pressures, and potentially weaken the rupee. This combination is likely to weigh on investor appetite for equities, particularly in sectors reliant on expensive raw materials.

    Banking and Realty Stocks Lead the Decline

    Selling pressure was broad-based, with profit booking observed in banking, financial services, real estate, healthcare, and pharmaceutical stocks. Midcap and smallcap indices also closed in negative territory, reflecting a cautious mood across the market. However, losses were partially offset by gains in automobile stocks, which extended their recent rally on the back of strong corporate earnings. Media shares also managed to stay afloat, trading modestly higher during the session.

    Markets Await Fresh Global Cues

    Investors are now closely monitoring developments in the Red Sea and the broader West Asia conflict, along with crude oil price movements. Any further escalation in geopolitical tensions or signs of supply disruptions could keep volatility elevated in the coming sessions. At the same time, domestic earnings reports and global economic data are expected to influence the near-term direction of the markets.

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  • Stock Market Wrap: Sensex Drops 567 Points, Nifty Slips Below 24,100 During Broad Sell-Off

    Stock Market Wrap: Sensex Drops 567 Points, Nifty Slips Below 24,100 During Broad Sell-Off

    Indian benchmark indices ended Wednesday’s session in the red, as selling pressure across banking, IT, and pharmaceutical stocks dampened investor sentiment. Rising crude oil prices, escalating geopolitical tensions in the Middle East, and global trade uncertainties fueled a risk-off mood, extending the recent losing streak for both the BSE Sensex and NSE Nifty50 despite selective gains in auto stocks.

    Market Performance

    The BSE Sensex closed at 76,903.37, down 567 points (0.73%), while the NSE Nifty50 settled at 24,021.75, losing 166 points (0.69%). Selling was widespread, with 15 of the 16 sectoral indices finishing in negative territory. Pharma stocks tumbled amid new US tariff concerns, while bank stocks declined on weak earnings reports. Midcap and small cap indices also ended lower.

    Top Gainers and Losers

    Top Gainers: Some stocks posted gains, though exact percentage changes were not disclosed in the end-of-day summaries. Notably, the automobile sector delivered decent quarterly results despite the broader market weakness.

    Top Losers: Banking, IT, and pharma stocks were among the worst performers, dragged by profit-taking and external headwinds.

    Market Trends and Key Takeaways

    Wednesday’s decline underscores the heightened sensitivity of Indian equities to global developments. Tensions in the Strait of Hormuz pushed crude oil prices above $92 per barrel, raising concerns about India’s import bill, inflation, and corporate profitability. Additionally, new US tariff proposals on imported drugs weighed heavily on pharmaceutical companies.

    The trading session also highlighted the importance of earnings reports: while the auto sector posted decent results, overall sentiment remained cautious. Moving forward, investors will closely monitor geopolitical events, crude oil price movements, foreign institutional investor (FII) activity, and the ongoing earnings season. Market volatility is likely to persist until clearer signals emerge.

  • HDFC Bank Dips to Rs 766.35: Why Analysts Stay Bullish on Long-Term Growth

    HDFC Bank Dips to Rs 766.35: Why Analysts Stay Bullish on Long-Term Growth

    HDFC Bank shares slipped to Rs. 766.35 for a second consecutive session, as earnings concerns weighed on market sentiment. Despite the correction, analysts remain optimistic, citing the bank’s strong fundamentals, healthy asset quality, and long-term growth prospects.

    Stock Under Pressure Despite Positive Street View

    HDFC Bank continued to drag the Nifty amid further profit-taking after the bank announced its latest quarterly results. Despite the current underperformance, various domestic and international brokerage firms have reaffirmed their confidence in the bank’s long-term potential. The stock opened at Rs. 769.15, reached a high of Rs. 772.50, and fell to a low of Rs. 765.20. High trade volumes indicate involvement from both institutions and individual investors.

    Market observers believe the current weakness is more due to profit-taking from earnings fears than any fundamental deterioration in the bank’s business.

    Chart Signals Weakness, But Key Support Holds

    Technical indicators suggest HDFC Bank continues to trade under selling pressure after failing to sustain its recovery above the Rs. 820 mark earlier this month. The stock has been making lower highs on the daily chart, indicating that bears remain in control in the short term.

    However, the Rs. 760 zone is emerging as an important support level. A decisive breach below this could trigger fresh selling, while a move back above Rs. 800–820 may improve sentiment and pave the way for a stronger recovery.

    Why Brokerages Remain Positive

    Despite the ongoing correction, analysts continue to favor HDFC Bank owing to its strong franchise, healthy balance sheet, and leadership in retail banking. The bank is expected to benefit from steady credit demand, improving deposit mobilization, and its ability to maintain stable asset quality.

    Brokerages also believe that integration-related challenges following the HDFC Ltd merger are gradually easing, allowing the lender to focus on improving profitability and business growth over the coming quarters. While earnings growth may remain moderate in the near term, most analysts see meaningful upside over the longer horizon.

    Opportunities and Risks

    While the recent correction has weighed on investor sentiment, analysts continue to highlight HDFC Bank’s structural strengths that support its long-term growth story. Key factors include strong franchise value, robust capital position, and a diversified loan portfolio.

    What Investors Should Watch Next

    The next few trading sessions are likely to determine whether HDFC Bank can stabilize near current levels or witness another leg of correction. Investors will closely monitor management commentary, loan growth, deposit mobilization, and margin trends for fresh direction.

    From a trading perspective, sustained buying above Rs. 800 could improve momentum, while a break below Rs. 760 may invite additional selling pressure. Long-term investors, however, continue to focus on the bank’s earnings potential rather than short-term market fluctuations.

    Conclusion

    The decline in HDFC Bank to Rs. 766.35 appears to reflect a more cautious mood among investors after the recent earnings season, rather than a significant change in the bank’s business outlook. Even with near-term pressures like margin compression and profit booking, many analysts believe the lender’s long-term growth narrative remains intact.

    Meanwhile, the broader banking sector shows a mixed picture. Some lenders like ICICI Bank have moved up after stronger-than-expected earnings, while stocks including HDFC Bank, Axis Bank, and Kotak Mahindra Bank face selling pressure. This has happened as traders reassess valuation levels and growth expectations. Still, the Indian banking segment continues to draw support from steady credit demand, improving asset quality, and solid capital buffers. Market experts generally view this correction as stock-specific and earnings-driven, not a sign of fragility across the entire banking space. Banks with strong fundamentals are expected to continue benefiting as India’s long-term economic growth continues.

    FAQs

    1. Why did HDFC Bank shares fall for the second consecutive session? HDFC Bank shares declined due to profit booking, earnings concerns, margin pressures, and cautious investor sentiment despite positive long-term brokerage outlooks.
    2. What is HDFC Bank’s current share price? HDFC Bank shares traded around Rs. 766.35 during Tuesday’s session, making it one of the biggest losers on the Nifty index.
    3. Are analysts still bullish on HDFC Bank stock? Yes. Most brokerages remain optimistic, citing strong fundamentals, healthy asset quality, robust capital position, and long-term earnings growth potential.
    4. What levels should investors watch in HDFC Bank shares? Analysts see support around Rs. 760, while sustained buying above Rs. 800–820 could improve near-term market sentiment and momentum.
    5. How are banking stocks performing overall? Banking stocks remain mixed, with earnings driving stock-specific moves, though strong fundamentals continue supporting the sector’s long-term growth outlook.
  • Indian Stock Market Ends Lower: Sensex Drops 316 Points, Nifty Closes at 24,172 as IT and Financial Stocks Weigh

    Indian Stock Market Ends Lower: Sensex Drops 316 Points, Nifty Closes at 24,172 as IT and Financial Stocks Weigh

    Indian equity markets ended Tuesday’s session on a subdued note, with benchmark indices witnessing a volatile trading day before recovering most of their intraday losses. Investors remained cautious amid the ongoing June-quarter earnings season, global geopolitical developments, and uncertainty surrounding crude oil prices. While select financial and IT stocks attracted buying interest, weakness in banking and healthcare counters kept the broader market range-bound.

    At 3:00 pm, the Sensex was at 77,392.41, down 316.11 points or 0.41% lower. The Nifty was at 24,172.30, down 65.65 points or 0.27% lower.

    Top Gainers Lead a Mixed Session

    The buying was seen in selected financial and tech stocks, wherein the day’s biggest gainer turned out to be Shriram Finance, which was up more than 2.5 percent. In addition to this, HCLTech and Bajaj Finserv were also seen in the list of top gainers of the day.

    Banking and Healthcare Stocks Weigh on the Market

    On the flip side, the HDFC Bank was the worst performer in terms of affecting the Nifty performance, followed by Dr. Reddy’s Laboratories, Max Healthcare, Cipla, TCS, Infosys, and SBI. The profit-taking in banks and pharmaceuticals companies prevented the index from closing in positive territory.

    Also Read: Stock Market Update: Nifty Opens 0.09% Lower, Sensex Falls 91.25 points Amid Tensions in the Middle East

    What Today’s Market Trend Signals

    The trading activity on Tuesday also highlighted a trend that has become very apparent in the earnings season; the markets are being moved more on an individual stock basis rather than as a result of any sectorial momentum. Instead of following the indices, investors have been buying selective stocks with potential for earnings growth while selling those that look expensive.

    The erratic performance in the stock market is also a function of continued uncertainty surrounding global developments such as the crude oil prices and geopolitical tensions, which continue to pose risk for emerging economies like India. However, the fundamentals domestically will continue to offer support to keep any correction at bay.

    In the coming days, the direction of the market may well depend on earnings and management statements, FII flows, and global macroeconomic signals. Till then, volatility will rule the markets and the action will be largely specific to stocks.

    Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.

  • Indian Stock Market Opens Lower Amid Middle East Tensions: Nifty Down 0.09%, Sensex Falls 91 Points

    Indian Stock Market Opens Lower Amid Middle East Tensions: Nifty Down 0.09%, Sensex Falls 91 Points

    Indian equity markets opened in the red on Tuesday as escalating tensions between the US and Iran weighed on investor sentiment. The Nifty 50 opened 22.45 points (0.09%) lower, while the Sensex declined by 91.25 points. In contrast, the Bank Nifty managed a modest gain of 0.14% at the open.

    On Monday, the Sensex had fallen 442.93 points (0.57%) to settle at 77,708.52, and the Nifty 50 dropped 95.80 points (0.39%) to close at 24,238.50. The Indian rupee opened at Rs. 96.41 against the US dollar on Tuesday, compared to the previous close of Rs. 96.45.

    Midcap stocks gained 0.6%, while smallcaps ended marginally positive. Foreign Institutional Investors (FIIs) sold Rs. 1,121 crore on July 20, but Domestic Institutional Investors (DIIs) absorbed the outflow, buying Rs. 1,312 crore.

    Sensex Outlook

    Technically, the Sensex formed a recovery candle after a gap-down open, indicating buying interest emerging at lower levels. Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted: “The key levels to watch are 76,800 on the downside and 78,300 on the upside. As long as these levels remain intact on a closing basis, stock-specific action is likely to dominate. A close below 76,800 could open the doors for a decline towards 76,200, whereas a sustained move above 78,300 may pave the way for a retest of 78,700. The preferred strategy is to reduce weak long positions in the 78,300-78,600 zone, while remaining selective in accumulating quality stocks on declines.”

    Nifty 50 Outlook

    The Nifty 50 formed a small-bodied candle on the daily chart and closed within the previous session’s range, reflecting continued indecision. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, commented: “A small green candle was formed on the daily chart that closed beside the long bull candle of Friday. Technically, this market action indicates an inside day type candle formation which is reflecting a range bound movement in the market with weak bias. The negative global sentiment has not impacted much on our markets so far.”

    Bank Nifty Outlook

    On Monday, the Bank Nifty formed a small-body bullish candle with wicks on either side, highlighting intraday indecision. Analysts noted: “Going ahead, the immediate resistance for Bank Nifty is placed in the 58,300-58,400 zone. Any sustainable move above this zone could result in Bank Nifty extending its pullback towards 58,800, followed by 59,200 in the short term. On the downside, the immediate support for Bank Nifty is placed in the 57,600-57,500 zone.”

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any investment decisions.

  • Indian Stock Market Surges: Sensex Gains Over 900 Points, Nifty Crosses 24,300

    Indian Stock Market Surges: Sensex Gains Over 900 Points, Nifty Crosses 24,300

    Indian benchmark indices surged in Friday’s afternoon session, with the Sensex jumping over 900 points and the Nifty crossing the 24,300 mark. Broad-based buying across banking, IT, and heavyweight stocks lifted investor sentiment and pushed markets sharply higher.

    Indian equity benchmarks ended Friday’s session on a strong note, outperforming most Asian markets as robust buying in information technology and financial stocks offset concerns over rising crude oil prices and geopolitical tensions in the Middle East. Investors largely focused on the ongoing June-quarter earnings season, with encouraging corporate results boosting market sentiment.

    The Sensex rose 912.74 points, or 1.18%, to 78,099.61, while the Nifty climbed 248.10 points, or 1.03%, to 24,320.85. The gains pushed the Nifty above the 24,300 mark, reflecting broad-based buying across sectors.

    IT and Financial Stocks Drive the Rally

    The IT sector took center stage in Friday’s rally as Tech Mahindra delivered better-than-expected quarterly results, sparking buying sentiment in technology-related stocks. Shares of Infosys, HCL Technologies, and Tata Consultancy Services rose, with analysts believing the quarter could mark a turning point for the underperforming sector. Banks were also strong, with Jio Financial Services jumping on better-than-expected quarterly results and loan growth estimates for Reliance Industries ahead of its Q1 results.

    Wipro, CEAT Among Major Laggards

    Wipro got off to a poor start as its quarterly earnings fell short of expectations, and management hinted at a delayed-than-anticipated demand recovery. Tire maker CEAT also took a severe beating due to weak earnings performance. Some pharma and metals sector companies were under selling pressure, with Cipla, Dr. Reddy’s Lab, and Hindalco ending on a negative note.

    Earnings Season Takes Center Stage

    According to market analysts, corporate profits and management outlooks should continue driving stock market movements in the coming weeks. Despite high oil prices and geopolitical instability being important factors, market participants will be closely watching how companies perform during the quarterly earnings season.

    Weekly Market Performance (July 13–17)

    The Indian equity market closed on a bullish note despite staying confined to a range during the July 13–17 week due to uncertainties in the global economic environment and expectations of earnings from Indian companies. The Sensex and Nifty stayed in a tight range as traders weighed strong corporate performance in Q4 June against rising crude oil prices and tensions in the Middle East.

    The week started with a volatile session on Monday as major indices managed to recover from early losses due to strong performance in IT sector stocks driven by earnings results and significant deals. The rally on Friday, led by stocks such as Reliance Industries, Jio Financial Services, Tech Mahindra, and private banking stocks, boosted the major benchmarks.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.

  • Indian Stock Market Opens Higher: Nifty Crosses 24,100, Sensex Gains 310 Points Despite Global Weakness

    Indian Stock Market Opens Higher: Nifty Crosses 24,100, Sensex Gains 310 Points Despite Global Weakness

    Despite weak global cues, rising crude oil prices, and a sell-off in semiconductor stocks, the Indian stock markets opened on a positive note on Friday. The Nifty 50 climbed above the 24,100 mark at the open, the Sensex jumped 310 points, and the Bank Nifty rose 0.28% in early trade.

    Market Recap

    On Thursday, the Sensex closed nearly flat at 77,186.87, up by just 1.44 points, while the Nifty 50 ended 5.75 points (0.02%) lower at 24,072.75. The Indian rupee opened marginally higher at ₹96.29 per dollar on Friday, compared to the previous close of ₹96.35.

    Domestic institutional investors (DIIs) remained net buyers on July 16, purchasing shares worth ₹2,986.41 crore. In contrast, foreign institutional investors (FIIs) turned aggressive net sellers, offloading equities worth ₹4,205.56 crore.

    Sensex Outlook

    Technically, the Sensex formed a small candle on the daily chart and showed non-directional activity on the intraday timeframe, indicating indecisiveness among traders.

    Shrikant Chouhan, Head of Equity Research at Kotak Securities, commented: “As long as the market is trading within the 77,000 to 77,500 range, the range-bound texture is likely to continue. On the positive side, above 77,500, the market could move till 77,800–78,000. On the downside, below 77,000, selling pressure is likely to accelerate. Below this level, the market could retest 76,500–76,300.”

    Nifty 50 Outlook

    The Nifty 50 continues to remain in a consolidation phase after ending Thursday’s session with a small bearish candle. Bajaj Broking Research noted: “The index is seen consolidating in a range. We expect the index to extend the recent consolidation and trade in the range of 23,800–24,350.”

    The brokerage highlighted that the immediate support zone lies around 24,000–23,950. As long as the index sustains above this level, analysts expect a recovery towards the upper end of the consolidation range. “We expect the index to hold above the same and witness a pullback towards 24,250–24,350 levels, being the upper band of the recent consolidation range. Short-term support is placed at 23,800 levels, being the confluence of the almost identical low of the last 4 weeks and 50 days EMA. While only a breakout above 24,350 will signal strength and open upside towards 24,600 levels, being the high of April 2026.”

    Bank Nifty Outlook

    Bank Nifty also remained under pressure during Thursday’s session, forming a bearish candle as traders booked profits near higher levels. The banking index continues to remain below the 58,000 mark.

    Bajaj Broking stated: “On the upside, 58,700 remains the immediate hurdle. A decisive close above this level would confirm a breakout from the ongoing consolidation and could trigger the next leg of the rally towards 59,300 and eventually 60,000 levels in the coming weeks.”

    On the downside, analysts believe the 56,500–56,000 zone remains a strong support area as it coincides with both the 20-week and 50-week exponential moving averages (EMAs).

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any investment decisions.