Today market opened with a **heavy gap-down**, creating panic in the opening session. However, near important lower support zones we clearly saw **absorption in order flow**, followed by strong reversal buying from lower levels.
After the recovery, market maintained a clear **buy-on-dips structure** throughout the day. Buyers remained active on every decline, and overall data also shifted towards the positive side during the second half.
Closing near higher zones indicates that lower levels are getting defended strongly and short-term sentiment has improved compared to previous sessions.
Overall structure has shifted from weak sell-on-rise to a more stable recovery structure, but volatility may still continue due to news and global cues.
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**NIFTY**
Support: 23,610 – 23,540
Next Support: 23,470 – 23,360
Resistance: 23,740 – 23,840
Major Resistance: 23,920 – 24,040
View:
Holding above 23,610 can continue bounce towards 23,740–23,840.
Above 23,840 strength may extend towards 23,920–24,040.
Below 23,540 weakness may return towards 23,470–23,360.
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**BANK NIFTY**
Support: 53,450 – 53,200
Next Support: 52,970 – 52,700
Resistance: 53,700 – 53,900
Major Resistance: 54,100 – 54,250
View:
Holding above 53,450 can continue recovery towards 53,700–53,900.
Above 53,900 momentum may extend towards 54,100–54,250.
Below 53,200 weakness may return towards 52,970–52,700.
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**Market Sentiment**
Heavy gap-down → support absorption → strong reversal
Clear buy-on-dips structure throughout the session
Data turned positive and market closed near higher zones
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**Trading Plan**
Buy on dips near support zones
Avoid aggressive shorts unless support breaks
Watch reaction near resistance for continuation strength
Trade with confirmation due to ongoing volatility
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