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Nifty 50 Nifty Bank Analysis for March 27, 2025
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Nifty Bank & Nifty 50 Target & Stoploss Analysis
Nifty Bank (51209)
On Wednesday, BankNifty showed correction by midsession and moved down to close at 51209, down by 399 points. Now On Thursday, at the opening bell, BankNifty is expected to profit booking may resume. The support level is 50893 with resistance at 51700
*On lower side, it is expected to decline to 50893
*On higher side, it is expected to move up to 51700
Nifty 50 (23487)
On Wednesday, Nifty showed downtrend by midsession and moved down to close at 23487, down by 181.80 points. Now On Thursday, at the opening bell, Nifty is expected to profit booking and then uptrend may resume. The support level for today is 23380 with resistance at 23665
*On lower side, it is expected to decline to 23380
*On higher side, it is expected to move up to 23665
- Reliance, Target & Stoploss
- Gold Analysis
- FII buy-Sell
- Technical Analysis
- Calls for the Day
- Currency Analysis
Technical Analysis of the Market by Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities
After showing weakness from the overhead resistance of around 23800 levels on Tuesday, Nifty slipped into decline by breaking trot of consecutive seven sessions of rise on Wednesday and closed the day lower by 181 points. After opening with a positive note, the market started to correct from the early part of the session. The weakness continued in the mid to later part of the session and Nifty closed near the lows.
A long bear candle was formed on the daily chart, which is indicating a beginning of short-term downward correction in the market, after a sharp rise. The bullish chart pattern like higher tops and bottoms have started to form on the daily chart and present weakness could be in line with the new higher bottom formation.
The market is in a healthy downward correction and one may expect Nifty to bounce back shortly after forming higher bottom. The next lower supports are placed around 23400-23200 levels. Any bounce from near the support could challenge the key hurdle again at 23800 levels.
What is Vaishali Parekh’s prediction for Nifty 50?
(Vice President — Technical Research at Prabhudas Lilladher)
Market Preview
Despite positive global cues, the Indian stock market witnessed a tumultuous session on Tuesday due to sharp selling in banking, metal, and pharmaceutical stocks. However, the Indian stock market managed to end higher for the seventh straight session. Among frontline indices, Nifty 50 and the BSE Sensex ended marginally higher, whereas the Bank Nifty index shed 97 points and closed at 51,607. The Nifty 50 index finished at 23,668. HDFC Bank shares bolstered the 50-stock index, rising 1.2%, while UltraTech Cement led top gainers with a 3.4% surge.
NSE cash market volumes surged by 13% compared to the 10-day average, indicating heightened trading activity. Midcap and Smallcap indices witnessed profit booking after six consecutive sessions of gains. The Nifty Midcap 100 index retreated 1.06%, and the Nifty Smallcap 100 index corrected by 1.56%. The advance-decline ratio on the NSE turned negative at 0.30, signalling more decliners than advancers after six days of positive breadth.
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Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is still positive. The Prabhudas Lilladher expert said the Indian stock market would remain a buy-on-dips market until the Nifty 50 index exceeds 23,500. She noted Tuesday’s dip in Indian indices from their respective highs should be seen as profit-booking after a continuous rise for six straight sessions.
Speaking on the outlook for the Nifty 50 today, Vaishali Parekh said, “The Nifty 50 index, after witnessing a significant gain of almost 1500 points in the last six sessions, took a breather finding resistance near 23,850 zones and with some profit booking seen ended the session on a flat note near 23,670. The index has improved the trend overall with sentiment improving. With a short period of consolidation with near-term support positioned near the 23,500 zone, we can anticipate another round of upward move with targets of 24,200 and 24,700 expected in the coming days.”
“The Bank Nifty index, after the strong move from the 48,000 zone, has scaled 52,000 in the past six sessions, finding resistance and taking a halt has slipped down with some profit booking witnessed. The overall bias has been maintained strong, with near-term support positioned near the important 200 period MA at 51,000, which needs to be sustained as of now. On the upper side, the targets of 52,500 and 53,800 are still open, with the frontline banking stocks well poised for further gains in the coming days,” said Parekh.
Parekh said that today, the Nifty’s support is at 23,500, while the resistance is at 23,900. The Bank Nifty will have a daily range of 51,200 to 52,200.
Share Market today live & Nifty Analysis by Shrikant Chouhan
Head, Equity Research Kotak Securities
Today, the benchmark indices witnessed profit booking at higher levels, with the Nifty ends 182 points lower, while the Sensex was down by 729 points. Among sectors, almost all the major sectoral indices registered intraday selling pressure at higher levels but Media Index lost the most, shed 2.40 percent. Technically, after a muted open, the market consistently faced selling pressure at higher levels. From the day’s highest points, the market corrected over 285/950 points. Additionally, it has formed a bearish candle on the daily charts, which supports further weakness from the current levels.
We are of the view that, as long as the market is trading below 23,600/77500, weak sentiment is likely to continue. On the downside, it could retest the levels of 23,400-23,330/77000-76800. On the other hand, if it moves above 23,600/77500, the sentiment could change, and the market could bounce back up to 23,700-23760/77800-78000. Contra traders can take a long position near 23,330/76800 with a strict stop loss at 23,300/76650
Analysis by Mr. Devarsh Vakil, Head of Prime Research HDFC Securities
Profit taking halts week-long rally.
After a seven-day rally, the Indian stock market paused on Wednesday, with Sensex and Nifty sliding into negative territory as investors awaited clarity on potential U.S. tariffs. The market’s momentum stalled as traders digested recent gains and assessed geopolitical uncertainties.
Lingering worries surrounding the impending April 2 tariff deadline has triggered heightened global market volatility, causing investors to adopt a cautious approach to their investment decisions.
The Nifty and Sensex, which gained nearly 5.7% over the past seven sessions and turned positive for the year, saw a pullback as investors booked profits. The sharp and rapid rise prompted caution among traders, triggering a sell-off in heavyweight stocks across banking, IT, and metals sectors.
The Indian rupee demonstrated resilience, rising 5 paisa to close at 85.70 against the dollar, supported by continued foreign capital inflows.
Nifty Midcap and Small cap indices continued profit-taking for the second consecutive day. The Nifty Midcap 100 index fell by 0.62%, while the Nifty Small cap 100 index corrected by 1.07%. The advance-decline ratio stood at 0.30 on the BSE, indicating broader market weakness.
Except for Nifty Auto, which marginally ended in green, all sectoral indices closed in the red. Nifty Media, Oil/Gas, Realty, and Healthcare emerged as the most significant losers during the session.
The Nifty has retreated more than 400 points from its recent high of 23,869 but remains positioned above key moving averages. Immediate support is placed near 23,400, coinciding with 100 and 200-day exponential moving averages. A strong support exists at 23,141, representing a 38.2% retracement of the recent upmove. Potential resistance levels are anticipated at 23,600 and 23,869.
Analysis by Om Mehra, Technical Analyst, SAMCO Securities
No updates for today
Analysis by Rajesh Bhosale, Technical Analyst, Angel One Ltd – Angel One
No update for today
Analysis by Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
Nifty Marks Seventh Straight Positive
Close, But Bulls Face Stiff Resistance
Nifty index logged its seventh consecutive positive finish, yet the bears dominated intraday action, keeping bulls at bay. The index encountered a strong resistance zone, pausing its recent bullish momentum. While price action still reflects notable resilience, the index appears overstretched, with intraday charts hovering in overbought zones—signalling an impending time and price correction. Repeated pullback failures and abrupt selling pressure from higher levels underscore intense profit booking, leaving bulls struggling to regain their grip. On the daily chart, Nifty has formed a Doji candlestick pattern at a critical juncture, suggesting indecision among market participants following an extended bullish run. Additionally, the index is trading significantly above its 10-day EMA, hinting at an imminent mean reversion. This setup indicates a phase of consolidation, coupled with mild profit-taking, momentarily halting the ongoing uptrend. The bears have tightened their grip at the previous swing high, indicating caution against an unchecked rally. On the downside, market participants have established a strong demand zone at 23,400–23,450, flipping previous resistance into firm support. With Nifty holding well above key moving averages, any short-term dips are likely to attract aggressive buying.
The index concluded the session at 23,668.65, gaining 0.04% (+10.30 points), reinforcing a cautious stance among traders. Despite overbought intraday conditions, a combination of bearish unwinding by FPIs and an improving long-short ratio suggests that overall strength remains intact, though a minor pullback appears due. Notably, the momentum indicator RSI has surged beyond 70, while the index trades near a crucial resistance, reinforcing a buy-on-dips strategy. Traders should anticipate shallow dips, supported by strong buying interest at lower levels.
Options Market Insights
The derivatives market remains in a neutral phase, with Call and Put writers positioned nearly evenly, reflecting a wait-and-watch sentiment among market participants. A substantial accumulation at the 24,000-call strike (1.29 crore contracts) has turned it into a formidable resistance, while robust put writing at 23,000 (1.31 crore contracts) underscores a solid support zone, strengthening bullish confidence. The 23,500–23,300 range has emerged as a high-demand area, reinforced by aggressive put accumulation, whereas the 23,700-24,000 zone is witnessing stiff resistance due to heavy Call writing. Additionally, the Put-Call Ratio (PCR) has dipped from 1.15 to 0.96, reflecting market consolidation and cautious positioning. With the Max Pain level stationed at 23,500, bulls are absorbing selling pressure, paving the way for continued upside potential.
Volatility Trends
India VIX, the primary gauge of market volatility, dipped 0.47% to 13.65, indicating fading uncertainty. As long as volatility remains below 15, the market is expected to sustain its bullish bias with minimal disruptions.
Market Outlook
Nifty encountered a stiff resistance zone near previous supply levels, leading to profit booking. Intraday charts indicate overbought conditions, while the formation of a Doji candle on the daily chart hints at a potential pause in the ongoing trend. However, unwinding of bearish bets by FPIs and strong base formation at lower levels suggest that demand remains robust on dips. The index is trading comfortably above key moving averages and significantly above its 10-day EMA, indicating that a mean reversion or time correction is due. Moreover, the index is well above its 200-day EMA, which will act as a fresh support zone in the coming sessions. The 23,400–23,450 range remains a solid support zone, bolstered by persistent put writing, flipping a previous resistance into a demand area. On the upside, the 23,780–24,000 zone has emerged as a critical resistance region, where strong Call writing and psychological barriers could act as hurdles. A sustained move above 23,800 could trigger short-covering and accelerated buying, fuelling bullish momentum toward 24,000. With Call writers fortifying resistance at higher levels and Put writers defending lower levels, traders should prepare for a phase of consolidation and profit-taking. As long as Nifty holds above 23,400, a Buy on Dips strategy remains the most favourable approach. Meanwhile, a breakout above 23,800 could unleash the next leg of the rally, potentially propelling the index toward 24,000.
Market wrap up by Mr. Osho Krishnan, Sr. Analyst, Technical & Derivatives of – Angel One
Bulls on a roll; Nifty conquered 23650
The Indian markets began the new week on a positive note, drawing inspiration from developments in GIFT Nifty and a notable shift in market sentiments. After a gap-up opening, the bulls took charge and sustained their buying momentum, which led the benchmark index to surge into the 23700 zone. Ultimately, the Nifty50 index maintained its upward trend for the sixth consecutive session and closed above 23650, securing a gain of 1.32 percent.
The key developments of conquering one hurdle after another highlight the Bulls’ renewed enthusiasm and determination after a significant period of hibernation. The broad participation, coupled with the consecutive runaway gaps in the benchmark index, portrays a vivid picture of the prevailing market sentiment. It clearly indicates a robust underlying trend that strongly favors bullish movements, suggesting that optimism is permeating the market landscape once again. From a technical standpoint, the 23500 zone, followed by the 89 DEMA coinciding with the recent bullish gap of 23433-23400, is likely to cushion any shortcomings in the near period. On the flip side, the swing high of Feb’25 around 23800 seems the intermediate potent resistance, followed by 24100 (200 DSMA) in the comparable period.
Looking ahead, we have a promising opportunity to capitalize on the significant shifts in market trends alongside the strong momentum as we approach the monthly expiry. With a positive outlook, one must consider dips in the market as valuable buying opportunities. Implementing a trailing stop loss will also help effectively in securing profits as we navigate this dynamic environment.
Weekly market analysis by Amol Athawale, VP-Technical Research, Kotak Securities:
In the last week, the benchmark indices witnessed a stellar rally, with the Nifty gained 4.25 percent, while the Sensex was up by 3070 points. Among sectors, all the major sectoral indices traded in positive territory, with the Capital Market and Defense indices gaining the most. The Capital Market rallied by 14 percent, and the Defense index gained over 10 percent. During the week, the market successfully cleared the short-term resistance of 22,700/75000, and post-breakout, the positive momentum intensified. It also surpassed the 20 and 50-day Simple Moving Averages (SMA), which is largely positive.
Technically, on weekly charts, a long bullish candle has formed, and on daily and intraday charts, it is holding a higher bottom formation, which supports further upward movement from the current levels. We are of the view that the short-term market texture is bullish; however, due to temporary overbought conditions, we could see some profit booking at higher levels. For traders, buying on dips and selling on rallies would be the ideal strategy.
In the near future, 23,100/75800 and the 50-day SMA or 23,000/75400 would act as key support zones, while 23,500-23,700/77400-78000 could be the key resistance areas for the bulls. However, if it falls below 23,000/75400, the sentiment could change, and traders may prefer to exit from their long positions.
For the Bank Nifty, it rallied over 5 percent last week and is currently trading comfortably above the 50,000 mark. For the trend, traders should consider 50,000 and 49,700 as key support zones, while the 200-day SMA at 51,000 and 51,300 could serve as crucial resistance areas for positional traders.
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