The Indian stock market has experienced a significant rally recently, with the Nifty 50 and Bank Nifty showing considerable consolidation after a short rally in the morning. As global and domestic market conditions continue to evolve, investors and traders are left wondering whether the Nifty 50 will continue above 25,000, and the Bank Nifty will stabilize around 56,000 in this market.
In today’s trading session, both the Nifty 50 and Bank Nifty opened almost flat and later rallied, indicating positive sentiment at the start. However, as the session progressed, both the indices Nifty and Banknifty faced a sell-off in the middle and were trying to recover at the moment.
Index Overview
The Nifty Index opened at Rs. 25,085.30, with an almost flat opening from its previous close of Rs. 25,077.65. The index reached a high of Rs. 25,202.30 but is currently trading below the high price.
The BankNifty Index opened at Rs. 56,126.40 with an almost flat opening from its previous close of Rs. 56,104.85. The index reached a high of Rs. 56,502.45 and is currently trading near its high price.
Experts’ Outlook on Nifty and Banknifty
According to experts, the market rally may continue as long as Nifty holds above 24,800 and Bank Nifty stays above 55,500. Strong short covering in banks and strength in autos, metals, and oil stocks support the trend. If IT participates, Nifty may head towards 25,500 and the key resistances: Nifty at 25,400, Bank Nifty at 57,200.
Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities
Nifty has been on an upward trend since the RBI policy announcement, led by short covering in the banking and financial services sectors. Autos, metals, and oil marketing are also showing strength, while retail remains weak but has a low index weight. If IT joins the rally, Nifty may move towards 25,500; otherwise, it could face resistance near 25,400. Key support lies at 24,800–24,600. With the results season approaching, a rise in implied volatility is expected.
Bank Nifty has also shown strong momentum post-RBI policy, led by significant short covering. PSU banks have outperformed overall, but Axis Bank and Kotak Mahindra Bank have recently led gains among private banks. Unlike Nifty, Bank Nifty has surpassed its recent peak, indicating relative strength. Immediate support lies at 56,000, then 55,500, with the resistance lying at 57,000 and later 57,500, respectively.
Jigar S Patel, Senior Manager – Equity Research at Anand Rathi
Nifty is now holding above the key 25,000 mark, previously a major resistance, signaling strong market sentiment. A breakout above the Ichimoku Cloud and a triangle pattern confirm the bullish trend. RSI has rebounded from the 40 zone to around 55, showing improving momentum. While minor pullbacks may occur, the overall trend remains positive. The index key support is at 25,000–24,900, and with resistance at 25,300–25,400.
Bank Nifty has broken above its previous swing high of 55,835 and the Ichimoku Cloud, signaling strong bullish momentum. Currently near 56,087, the index is supported by an RSI rebound to 63 and a bullish MACD crossover, both indicating rising strength. With continued buying interest, the uptrend is likely to persist, and the index key support lies at 55,700–55,500, and resistance at 57,000–57,200.
Written by Sridhar J
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