Market Outlook for Tomorrow

The NIFTY 50 closed higher by 285.40 points (1.17%) at 24,765.90, rebounding after the previous session’s sharp decline as buying interest returned in metals, capital goods, and energy stocks. Gains were led by ADANIPORTS (+3.82%), HINDALCO (+3.79%), LT (+3.72%), BEL (+3.39%), and NTPC (+3.18%). Additional support came from RELIANCE (+3.08%), COALINDIA (+2.95%), JSWSTEEL (+2.89%), and M&M (+2.63%), which also traded firmly higher during the session. On the downside, TECHM (-1.38%), ICICIBANK (-0.89%), HCLTECH (-0.61%), SBIN (-0.51%), and TCS (-0.49%) capped the overall gains as select IT and banking stocks faced mild selling pressure. Market breadth remained positive, with 38 stocks advancing and 12 declining in the index.

The NIFTY 50 opened at 24,615.95, touched a low of 24,529.40, hit a high of 24,854.20, and closed at 24,765.90, up 285.40 points (1.17%). The index rebounded amid short covering and improved global sentiment following the recent sharp correction. Optimism was further supported by a stronger rupee and easing oil concerns. Technically, RSI regained toward the 40 level, indicating a recovery in momentum after the recent oversold condition. Near-term support levels are at 24,385/24,154, and resistance levels are at 25,131/25,361.

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Nifty Rebounds on Rapprochement Hopes and Oversold Conditions

Bank Nifty Commentary for Tomorrow

The NIFTY BANK closed higher by 300.60 points (0.51%) at 59,055.85, as buying interest returned across select PSU and private banking stocks. AUBANK (+2.84%), YESBANK (+1.20%), FEDERALBNK (+1.12%), and CANBK (+1.07%) led the gains among banking stocks, indicating renewed momentum in the sector. INDUSINDBK (+1.02%), BANKBARODA (+0.77%), HDFCBANK (+0.74%), KOTAKBANK (+0.74%), IDFCFIRSTB (+0.63%), and PNB (+0.54%) also contributed to the positive move in the index. However, ICICIBANK (-0.89%), SBIN (-0.51%), and AXISBANK (-0.14%) ended lower, capping the overall upside. Market breadth remained positive with 11 advances and 3 declines.

The NIFTY BANK opened at 59,008.25, touched a low of 58,506.40, hit a high of 59,274.35, and closed at 59,055.85, up 300.60 points (0.51%). The index opened positively and traded steadily early, but dipped slightly in the afternoon amid mild profit booking. It later recovered toward the close on selective buying in key banking stocks. RSI rebounded near the 40 level, indicating a mild recovery in momentum after the recent weakness. Near-term support levels are at 58,281/57,801, and resistance levels are at 59,831/60,311.

Quick Comment on FINNIFTY And SENSEX

The NIFTY FINANCIAL SERVICES closed higher by 215.35 points (0.80%) at 27,235.80, driven by strong gains across select NBFC and financial stocks. BSE (+5.49%), PFC (+4.75%), RECLTD (+4.27%), SHRIRAMFIN (+2.92%), and BAJFINANCE (+1.89%) led the advances in the index, indicating robust buying interest in the financial segment. Further support came from ICICIGI (+1.29%), BAJAJFINSV (+1.11%), SBILIFE (+0.95%), JIOFIN (+0.89%), and CHOLAFIN (+0.87%), which also ended the session in positive territory. Meanwhile, MUTHOOTFIN (-0.99%), ICICIBANK (-0.89%), SBIN (-0.51%), AXISBANK (-0.14%), and ICICIPRULI (-0.11%) traded lower, limiting the overall upside in the index. Market breadth remained positive with 15 advances and 5 declines. Near-term support levels are at 26,808/26,561, and resistance levels are at 27,608/27,855.

The BSE SENSEX closed higher by 899.71 points (1.14%) at 80,015.90, as broad-based buying in capital goods, energy, and metal stocks lifted the benchmark index. ADANIPORTS (+4.51%), LT (+3.88%), NTPC (+3.36%), RELIANCE (+3.29%), and BEL (+2.98%) were among the top contributors to the rally. Additional gains were recorded in INDIGO (+2.90%), M&M (+2.56%), POWERGRID (+2.33%), MARUTI (+2.10%), and TATASTEEL (+2.01%), which further strengthened the index. However, TECHM (-1.30%), HCLTECH (-0.73%), HINDUNILVR (-0.39%), ICICIBANK (-0.37%), and SBIN (-0.27%) finished in negative territory, limiting the overall upside. Market breadth remained positive with 19 advances and 11 declines. Near-term support levels are at 78,738/77,930, and resistance levels are at 81,352/82,160.

Intraday levels for NIFTY, BANK NIFTY, SENSEX and FINNIFTY Levels: