The market once again witnessed a strong recovery from lower levels, indicating that buyers are consistently active near key support zones. Despite initial weakness, steady buying and short covering helped the indices move higher, maintaining a positive undertone in the market.
However, tomorrow’s session is expected to be highly volatile due to major triggers including the RBI policy announcement and global cues around the Trump deadline. These events can lead to sharp moves on both sides.
Nifty View
Nifty continues to hold its structure with higher lows formation.
Support: 23,042 – 22,955
Next Support: 22,848
Resistance: 23,132 – 23,167
A sustained move above 23,167 can trigger fresh bullish momentum.
Failure to hold 23,042 may lead to quick profit booking.
Bank Nifty View
Bank Nifty also showed strength with consistent buying on dips.
Support: 52,576 – 52,454
Next Support: 52,184 – 51,957
Resistance: 52,711 – 52,816
Sustaining above 52,816 can lead to continuation of the upside move.
Rejection from resistance may keep the market range-bound.
Conclusion
The market structure remains positive with repeated support-based buying, but major event-driven volatility is expected in the next session. Traders should remain cautious and avoid aggressive positions during news hours.
Key Takeaway:
Buying on dips continues, but RBI policy and global triggers can drive sharp volatility — trade with discipline and levels.