Overview of Market

The Indian equity market delivered a positive and steady performance today, supported by strong global cues and improved risk sentiment. Nifty 50 closed at 26,046, Sensex at 85,267, and Bank Nifty at 59,389. Global markets traded higher, and the recent US Federal Reserve rate cut boosted liquidity expectations, helping Indian indices start and sustain the session on a firm note. Domestic investor participation also remained strong, contributing to the market’s upward momentum.

Technically, the behaviour of the indices aligned perfectly with the key levels shared earlier. Yesterday, the resistance for Sensex was marked at 85,272, and today Sensex closed at 85,267, showing precise respect to the identified resistance zone. Nifty 50’s resistance was shared at 26,037, and the index closed slightly above at 26,046, indicating controlled buying around a critical price band. Meanwhile, Bank Nifty formed a Doji, reflecting indecision within the banking sector due to mixed performance among major banks and sector-specific uncertainty following global rate developments.

The updated levels provide a structured outlook for traders: Bank Nifty support at 58,007 and resistance at 60,102; Sensex support at 83,199 and resistance at 86,065; and Nifty 50 support at 25,492 with resistance at 26,325. These levels will guide market direction as traders assess whether indices can break above their resistance zones or consolidate near current levels.

Overall, today’s closing reinforces the accuracy of the previously highlighted technical levels while global optimism and stable domestic sentiment supported the broader trend. The combination of global strength, Fed-driven liquidity expectations, and precise technical reactions indicates that the market may continue to provide momentum-based opportunities in the coming sessions.

By Nehal Taparia

This content is for educational and knowledge purposes only and should not be considered as investment or Trading advice. Please consult a certified financial advisor before making any investment or Trading decisions.