The resistance around 24,650 on the Nifty has held very well. The corrective fall to 23,800 has also happened in line with our expectation. We expect the Nifty to reverse higher either from here itself or after some more dip in the near term. The overall picture continues to remain positive for the Nifty 50. We retain our view of the Nifty moving higher in the coming weeks.
Nifty has supports at 23,800-23,750 and then in the 23,600-23,500 region. A bounce from either of these supports can take the Nifty higher to 24,700 initially and then to 25,500 eventually in the short term.
The Nifty Bank index can fall to 54,500 or 53,500 first. Thereafter, the Nifty Bank index can rise back to 58,000-58,500 initially. From a medium-term perspective, the Nifty Bank index has the potential to target 60,000 and 64,000 on the upside.
---
BL Portfolio: https://www.thehindubusinessline.com/portfolio/
---
Write to the following email ids for any queries on
1) Futures & Options (F&O) : derivatives@thehindu.co.in
2) Technical outlook on the specific stocks: techtrail@thehindu.co.in
3) Mutual Funds: mf@thehindu.co.in
4) Investments, Personal finance: blportfolio@thehindu.co.in
---
SOCIAL MEDIA HANDLES
Facebook - Blportfolio
https://www.facebook.com/profile.php?id=100086211032670
LinkedIn - BL Portfolio
https://www.linkedin.com/in/bl-portfolio-314bb2220
Twitter - @BlPortfolio
https://twitter.com/BlPortfolio?t=B3zkMfwKIMuoHWBWJfoZ3w&s=09
Published on April 25, 2026