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MUMBAI — Indian equity markets continued their upward trajectory today, with both the Nifty 50 and Bank Nifty indices showing strong technical signals that suggest further gains may be on the horizon. The rally was supported by positive global cues, easing inflation concerns, and renewed optimism around trade negotiations.
The Nifty 50 index opened with strength, briefly crossing the psychological milestone of 25,000 during intraday trade. It closed at 24,973, up 0.42%, and remained above key moving averages, including the 20, 50, 100, and 200-day exponential moving averages. Technical analysts noted that the index formed a bullish candle and held firm above its support zone of 24,950, with resistance levels now seen at 25,083 and 25,153.
Meanwhile, the Bank Nifty index broke out of a nine-session consolidation phase, climbing above the 54,400–54,700 range. It closed at 54,565, with futures contracts showing strength around 54,807. Analysts highlighted a bullish bias, with strong support at 54,400 and resistance at 54,880. A decisive move above this level could push the index toward 55,000–55,100 in the coming sessions.
Momentum indicators such as the Relative Strength Index (RSI) remain in bullish territory, suggesting that buying interest is broad-based and sustainable. Sectoral gains were led by IT and PSU banking stocks, with tech shares buoyed by strong earnings reports and favorable macro signals.
Market sentiment remains optimistic, bolstered by expectations of stable interest rates and improving domestic consumption. Traders are advised to monitor breakout levels closely, as sustained movement above resistance zones could trigger fresh long positions and extend the current rally.
As India’s benchmark indices continue to show resilience, technical patterns point to a market environment ripe for upward continuation—provided global conditions remain supportive and earnings momentum holds.