Nifty Gains Momentum as Nifty Bank Scales a New Record High

The Indian equity market extended its upward trajectory, with both the Nifty and the Nifty Bank posting healthy gains, with the latter hitting a fresh all-time high. The overall sentiment remained firmly positive, supported by strong technical structure, declining volatility, and sustained buying interest across sectors.

Nifty Inches Toward 26,100 as Bullish Momentum Builds

Nifty closed the session at 26,013.45, up 0.40%, marking another day of steady gains as the index moved closer to the critical 26,100 resistance zone. After a stable opening, Nifty maintained a gradual upward drift throughout the session and formed a bullish candle, reinforcing improving sentiment.

Key Technical Signals

• The index continues to trade comfortably above the middle Bollinger Band, highlighting a sustained uptrend.
  
  
• Nifty remains positioned above the 20-EMA at 25,800, which now acts as a strong dynamic support zone.
  
  
• The chart structure has been forming higher highs for nearly a week, indicating a steady rebuilding of upside momentum.
  
  
• RSI at 65 reflects strengthening bullish momentum.
  
  
• MACD is inching closer to the signal line, hinting at a potential positive crossover.
  
  

Crucial Levels to Watch

• Support: 25,850 – 25,780
  
  
• Resistance: 26,050 – 26,100
  
  

A sustained close above the 26,050–26,100 zone may open the door for a fresh breakout toward the record high at 26,277.35.

Volatility Index

India VIX settled at 11.79, and a further dip below 11.50 would add conviction to the ongoing bullish trend.

Nifty Bank Breaks Out to a New All-Time High

Nifty Bank outperformed the broader index once again, ending the session at 58,962.70, up 0.76%. The index recorded a new lifetime high of 59,001.55 during the day, supported by strong buying interest and a robust technical setup.

After opening firm, Nifty Bank maintained strength through the session and formed a solid bullish candle, confirming a decisive breakout. The index continues to trade well above its short-term moving averages and remains supported by the Supertrend indicator, which signals sustained bullishness.

Technical Indicators

• RSI at 71 signals strong positive momentum.
  
  
• MACD remains in positive territory, further supporting the ongoing uptrend.
  
  
• The broader chart structure exhibits a clear rising trend channel.
  
  

Key Levels to Track

• Support Zone: 58,500 – 58,350
  
  
• Upside Targets:
  
  
  • 59,450 (Fibonacci extension)
    
    
  • Potential for even higher levels if momentum persists
    
    

As long as Nifty Bank holds above 58,350, the bias remains firmly upward. Sustaining above 59,000 keeps the index well-positioned for further gains in upcoming sessions.

Market Outlook

With both benchmark indices holding above key support zones and volatility trending lower, the overall market undertone remains bullish. A breakout above 26,100 for Nifty and sustained strength above 59,000 for Nifty Bank could set the stage for a new leg of rally, supported by strong momentum oscillators and improving risk appetite.