Market Outlook for Tomorrow

The NIFTY 50 closed lower by 71.60 points (-0.27%) at 26,178.70, as losses in select heavyweight stocks capped gains in defensives and banking names. APOLLOHOSP (+3.50%), ICICIBANK (+2.80%), TATACONSUM (+2.78%), HDFCLIFE (+2.21%), and BAJAJ-AUTO (+1.80%) led the gains, while TRENT (-8.46%), RELIANCE (-4.39%), KOTAKBANK (-2.22%), INDIGO (-1.96%), and ITC (-1.84%) were the top drags. Other decliners included HDFCBANK (-1.49%), POWERGRID (-1.29%), ADANIPORTS (-1.21%), ETERNAL (-0.99%), ADANIENT (-0.77%), and JSWSTEEL (-0.70%). Market breadth remained positive, with 29 stocks advancing and 21 declining.

The NIFTY 50 opened at 26,189.70, touched a low of 26,124.75, hit a high of 26,273.95, and closed at 26,178.70, down 71.60 points (-0.27%). The market closed lower due to profit booking in heavyweight stocks, particularly banking and energy names, even as selective buying was seen in IT stocks. Reliance and Trent were a significant drag, with Trent dropping after disappointing earnings. The RSI fell further below the 60 level, indicating a moderation in bullish momentum. Near-term support levels are at 26,030/25,936, and resistance levels are at 26,336/26,430.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

Nifty Slips Despite Positive Market Breadth

Bank Nifty Commentary for Tomorrow

The NIFTY BANK closed higher by 74.20 points (0.12%) at 60,118.40, supported by selective buying in PSU and private sector banks, even as weakness in a few heavyweight names capped the upside. ICICIBANK (+2.80%), UNIONBANK (+2.11%), INDUSINDBK (+1.73%), and SBIN (+1.24%) led the gains, with heavyweight stocks HDFCBANK (-1.49%) and KOTAKBANK (-2.22%) limiting further upside. On the downside, FEDERALBNK (-2.58%), KOTAKBANK (-2.22%), HDFCBANK (-1.49%), AUBANK (-0.64%), and BANKBARODA (-0.57%) were among the key laggards. Market breadth was neutral, with 7 stocks advancing and 7 declining.

The NIFTY BANK opened at 59,957.80, touched a low of 59,844.80, hit a high of 60,305.00, and closed at 60,118.40, up 74.20 points (0.12%). The RSI remains near the 70 level, indicating bullish momentum. Near-term support levels are at 59,711/59,460, and resistance levels are at 60,525/60,777.

Quick Comment on FINNIFTY And SENSEX

The NIFTY FINANCIAL SERVICES closed higher by 93.65 points (0.34%) at 27,945.10, supported by selective buying across banking, insurance, and lending stocks. ICICIBANK (+2.80%), SBICARD (+2.66%), HDFCLIFE (+2.21%), CHOLAFIN (+1.56%), and ICICIGI (+1.53%) led the gains, with heavyweight stocks SBIN (+1.24%), AXISBANK (+0.33%), and BAJAJFINSV (+0.43%) providing additional support. Notably, KOTAKBANK (-2.22%), JIOFIN (-0.62%), BAJFINANCE (-0.18%), and SHRIRAMFIN (-0.14%) weighed on the index. Market breadth was positive, with 15 stocks advancing and 5 declining. Near-term support levels are at 27,722/27,592, and resistance levels are at 28,141/28,271.

The BSE SENSEX closed lower by 376.28 points (-0.44%) at 85,063.34, as sharp losses in select heavyweight stocks offset gains in banking and IT names. ICICIBANK (+2.87%), HINDUNILVR (+1.75%), SUNPHARMA (+1.73%), SBIN (+1.33%), and TCS (+1.28%) led the gains, with additional support from heavyweight stocks INFY (+0.30%), HCLTECH (+0.68%), AXISBANK (+0.33%), and BAJAJFINSV (+0.38%). Declines were led by TRENT (-8.62%), RELIANCE (-4.42%), ITC (-2.07%), KOTAKBANK (-2.02%), and HDFCBANK (-1.56%). Market breadth was slightly positive, with 17 stocks advancing and 13 declining. Near-term support levels are at 84,663/84,423, and resistance levels are at 85,439/85,680.

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