The Nifty 50 extended its bullish trajectory and came within a whisper of its lifetime high, hitting 26,246 a level the market has been waiting to reclaim for nearly 14 months. Despite mild profit booking in the final hour, the index maintained its strength around 26,200 and continued to form a higher-high, higher-low structure. The broader trend remains constructive, supported by strong demand zones at 26,180, 26,070, and deeper support between 26,000 and 25,900. A breakout above 26,277 remains the next major trigger that could open the path toward 26,350–26,500 and higher.
Nifty 50 Index Open interest positioning reinforces this bullish setup. Heavy put writing at 25,900–26,000 and consistent call unwinding around 26,200–26,300 clearly show that risk appetite is shifting upward. As long as Nifty holds above 26,000 and sustains above 26,220, upward momentum is expected to continue.
Bank Nifty also delivered a strong session, breaking above the upper boundary of its long-term ascending channel and hitting fresh record highs near 59,413. The breakout is supported by leadership in private banks and a strong advance-decline ratio across index components. Former resistance at 59,000 has now turned into a critical support zone, backed by concentrated put writing at 59,000 and 58,500. As long as the index holds this base, Bank Nifty is positioned to Resistance 59,600–60,000 next. A sustained move above 59,500 may accelerate momentum into uncharted territory. Only a breakdown below 58,900–58,500 would signal the start of a deeper corrective phase.
Overall, the market closed at a decisive moment, with both Nifty and Bank Nifty sitting at their respective breakout zones. Record-high price action is being validated by supportive OI trends, improving global sentiment, and resilient domestic liquidity. Broader participation remains strong as mid-caps outperformed, buoyed by earnings upgrades, healthy inflows, and seasonal demand from the wedding cycle, which continues to lift consumption-driven sectors. Stable macro conditions, firm domestic flows, and renewed foreign interest are collectively sustaining the upward fundamental momentum in Indian equities.
About Author: Ponmudi Radhakrishnan stands as one of India’s most visionary fintech leaders, transforming the wealth-tech landscape through innovation, determination, and unwavering commitment to financial empowerment. As the Founder and CEO of Enrich Money, he has built India’s leading multi-asset trading platform from the ground up, revolutionizing how Indians invest and trade in financial markets.
