Today’s session started with a sharp gap-down opening as weak global cues and risk-off sentiment weighed heavily on the markets.
📉 Initial selling pressure pushed indices lower, but important support zones attracted buyers and triggered a temporary recovery.
⚠️ However, strong absorption at higher levels prevented the recovery from sustaining. Sellers regained control, and aggressive selling emerged during the closing hours, dragging both Nifty and Bank Nifty near their day’s lows.
🔍 Key Observation:
Closing near critical support zones with strong negative delta suggests caution remains high among market participants.
📊 NIFTY LEVELS
🔹 Support: 23,101–23,056
🔹 Next Support: 22,969–22,952
🔹 Resistance: 23,183–23,249
🔹 Major Resistance: 23,368–23,415
📊 BANK NIFTY LEVELS
🔹 Support: 54,003–53,940
🔹 Next Support: 53,738–53,582
🔹 Resistance: 54,148–54,254
🔹 Major Resistance: 54,507–54,756
🎯 Trading Plan For Tomorrow
✔ Track global market sentiment before opening
✔ Watch support zones closely for directional clues
✔ Avoid aggressive longs below resistance
✔ Trade confirmation, not prediction
✔ Expect high volatility due to global and geopolitical developments
📌 Market Bias: Cautious to Weak below resistance zones. Support levels will play a crucial role in deciding the next directional move.