NIFTY 50 & NIFTY Bank: Bank Nifty Edges Higher While Nifty Stabilises | Stock Market Today

Nifty 50: Measured Recovery After Sell-Off

Nifty closed at 25,571.25 (+0.46%), forming a small bullish candle following the prior session’s sharp decline. The rebound appears measured rather than impulsive, suggesting selective accumulation rather than aggressive buying.

Technical Structure

• Below 10/20/50 EMAs: Reflects short-term pressure after the recent breakdown.
• Above 200-day SMA: Provides broader structural support.
• RSI near 48: Momentum remains neutral-to-slightly weak but is attempting to stabilise.
• Fibonacci Mid-Range Defense: Price is defending the 50% retracement area, though follow-through remains limited.

Weekly Perspective

Despite mid-week volatility, the index closed the week up 0.39%, indicating underlying resilience. However, for a stronger directional move higher, Nifty must reclaim the cluster of short-term moving averages. Until then, the recovery remains tentative.

Key Levels to Watch:

• Resistance: 25,800–26,000 (EMA cluster zone)
• Support: 25,300–25,200 (near-term)
• Structural Support: 200-day SMA

Nifty Bank: Leadership Intact

Nifty Bank closed at 61,172.00 (+0.71%), forming a small bullish candle after the previous sharp decline. While the candle size is modest, it reflects steady participation in the recovery.

Technical Highlights

• Above all key moving averages: Broader uptrend remains intact.
• Upward-sloping averages: Trend alignment continues to favour bulls.
• Near upper Donchian Channel band: Indicates proximity to potential breakout territory.
• RSI near 59 and rising: Momentum remains constructive despite recent volatility.

Weekly View

The index gained 1.64% on the week, continuing to outperform the broader market.

Support Zone: 60,500–60,600
As long as price sustains above this band and holds near the upper Donchian boundary, dips are likely to attract buying interest.

Overall Market Takeaway

• Nifty 50: Stabilising but still technically repairing short-term damage.
• Nifty Bank: Trend leader, structurally stronger, and closer to potential breakout levels.

The divergence suggests sectoral leadership remains with financials, while the broader index works through consolidation.