Today’s session started with a gap-up opening, where buyers initially pushed prices higher. As the market approached the higher resistance zone, absorption was visible and price faced rejection. Later, buyers defended immediate support levels, leading to a healthy recovery.
The market once again tested resistance and finally closed near the upper end of the range, indicating that buyers remain active.
Overall, the market remained balanced, but the close near resistance makes tomorrow’s opening crucial.
📌 Technical Zones
NIFTY
🔹 Immediate Resistance: 24,175 – 24,199
🔹 Major Resistance: 24,268 – 24,337
🔹 Immediate Support: 24,131 – 24,105
🔹 Major Support: 24,005 – 23,959
BANK NIFTY
🔹 Immediate Resistance: 58,060 – 58,090
🔹 Major Resistance: 58,306 – 58,463
🔹 Immediate Support: 57,935 – 57,885
🔹 Major Support: 57,733 – 57,681
🎯 Trading View
📈 Nifty sustaining above 24,175 can open the path towards 24,199. Above that, the next target zone is 24,268 – 24,337.
📈 Bank Nifty sustaining above 58,060 can extend the move towards 58,306 – 58,463.
📉 Failure to hold 24,131 (Nifty) or 57,935 (Bank Nifty) may bring sellers back into the market.
Market Bias
Neutral to Slightly Bullish
Strategy
As price has closed near the upper end of the range, watch for breakout confirmation above resistance. If resistance holds again, expect another range-bound session with profit booking from higher levels. 📊🔥