<\/p>\n
Today market opened with a **gap-down opening** and initially witnessed downside volatility as traders reacted to global uncertainty and rising crude oil prices. However, the most important observation was that key support zones held firmly and selling pressure failed to extend lower.<\/p>\n
Near the support area, strong absorption was visible in order flow, indicating buyers were actively defending lower levels. This was followed by aggressive short covering and fresh buying interest, which helped both Nifty and Bank Nifty recover sharply from the day’s lows.<\/p>\n
Bank Nifty remained the stronger index throughout the session and witnessed significant momentum, supported by positioning ahead of the upcoming **RBI policy announcement on Friday**. The market eventually closed near the day’s higher zone, reflecting improved sentiment from lower levels.<\/p>\n
Despite today’s recovery, global uncertainty, elevated India VIX, rising crude oil prices, and upcoming RBI events are likely to keep volatility elevated in the near term.<\/p>\n
—<\/p>\n
**NIFTY**
\nSupport: 23,371 \u2013 23,315
\nNext Support: 23,242 \u2013 23,152<\/p>\n
Resistance: 23,476 \u2013 23,531
\nMajor Resistance: 23,601 \u2013 23,653<\/p>\n
**View:**
\nHolding above 23,371 can support continuation towards 23,476\u201323,531.
\nAbove 23,531, momentum may extend towards 23,601\u201323,653.
\nBelow 23,315, weakness may re-emerge towards 23,242\u201323,152.<\/p>\n
—<\/p>\n
**BANK NIFTY**
\nSupport: 54,016 \u2013 53,954
\nNext Support: 53,775 \u2013 53,602<\/p>\n
Resistance: 54,243 \u2013 54,495
\nMajor Resistance: 54,733 \u2013 54,975<\/p>\n
**View:**
\nHolding above 54,016 can continue the recovery towards 54,243\u201354,495.
\nAbove 54,495, momentum may extend towards 54,733\u201354,975.
\nBelow 53,954, profit booking pressure may increase towards 53,775\u201353,602.<\/p>\n
—<\/p>\n
**Market Sentiment**
\nGap-down opening followed by support absorption
\nStrong short covering from lower levels
\nBank Nifty showed relative strength
\nMarket closed near higher zones
\nRBI policy expectations, rising crude, and elevated VIX remain key factors<\/p>\n
—<\/p>\n
**Trading Plan**
\nBuy-on-dips structure remains valid while supports hold
\nWatch Bank Nifty for leadership cues
\nAvoid aggressive positions ahead of RBI policy event
\nNews-based volatility can continue in both directions<\/p>\n","protected":false},"template":"","article-category":[],"article-tags":[],"class_list":["post-40401","article","type-article","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/article\/40401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/article"}],"about":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/types\/article"}],"wp:attachment":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media?parent=40401"}],"wp:term":[{"taxonomy":"article-category","embeddable":true,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/article-category?post=40401"},{"taxonomy":"article-tags","embeddable":true,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/article-tags?post=40401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}