Today’s session opened with a strong gap-up, supported by positive news flow and global cues. However, higher levels witnessed strong absorption, leading to rejection from resistance zones and a gradual shift into a sell-on-rise structure.
Both Nifty and Bank Nifty remained under pressure throughout the day as every recovery attempt attracted fresh selling. Despite the weakness, buyers managed to defend key support areas, keeping the broader structure balanced.
Volatility remains elevated, and tomorrow’s direction will largely depend on how the market reacts around important support zones.
NIFTY
📌 Support: 23,795 – 23,730
📌 Resistance: 23,906 – 23,939
BANK NIFTY
📌 Support: 57,160 – 57,005
📌 Resistance: 57,290 – 57,350
Key Observations
✅ Gap-up opening failed to sustain
✅ Strong selling visible near resistance zones
✅ Sell-on-rise structure dominated the session
✅ Market closed near important support levels
✅ News-driven volatility remains high
Tomorrow’s Bias
Neutral to Cautious. Holding support zones may trigger a relief bounce, while weakness below support can invite fresh selling pressure.
Focus on risk management and let price confirm direction before taking aggressive trades. 📊🔥