According to Ms. Parekh – Bank Nifty may now target the 57,000 zone, which coincides with the important 200-period moving average resistance level.
Gift Nifty surged. Optimism surrounding possible US-Iran diplomatic progress, strong Asian markets led by South Korea’s Kospi at record highs, and firm US futures are supporting risk appetite globally.
Big players are likely to maintain highly defensive positioning because crude oil remains one of the most headline-sensitive commodities globally.
Technically, immediate support for Bank Nifty is placed around 54,400–54,500, while resistance is seen in the 55,800–56,000 zone.
NIFTY – Big players are likely to defend the 24000 Put base aggressively because it has become the key psychological expiry level.
Bank Nifty has witnessed sharp rebound from lower levels, but the index is still facing strong resistance near the 55600–55900 zone.
Gold witnessed strong rebound momentum after stabilizing from recent geopolitical-driven correction. Sentiment improved as traders anticipated easing inflation pressure
