The support at 23,800 on the #Nifty, mentioned last week is holding well . Nifty Bank index on the other hand is witnessing the fall to 53,500. Both are in line with our expectation. Broadly, the movement is happening as per our expectation. So, there is no major change in our view. We can expect the nifty 50 and the nifty bank index to reverse higher after some more fall from current levels.

Nifty has supports at 23,750 and 23,500. A break above 24,300 can take the nifty up to 24,600-24,700 initially and then to 25,500 eventually in the coming weeks.

Nifty Bank index can reverse higher from around 53,500. That leg of rise can take the bank nifty up to 56,000 and 58,500 initially and then to 62,000 and 64,000 eventually over the medium term

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 May 2, 2026