Nifty & Nifty Bank Technical Analysis by Samco Securities
by Om Mehra, Technical Research Analyst, SAMCO Securities
🕗 Last Update: 17 December 2025, 8.00 AM
Market Drifts as Follow-Through Goes Missing
 Nifty ended the session at 25,818.55, down 0.16%, as the index remained choppy and failed to hold at higher levels. The session reflected continued hesitation, with Nifty slipping marginally lower and closing near the lower half of the day’s range.
Nifty remains capped below the middle Bollinger Band. The index has also slipped below the 9-day average near 26,000, indicating a loss of short-term momentum. Recent candles highlight repeated selling pressure near the 26,000–25,900 zone, keeping the upside restricted.
On the hourly chart, Nifty has broken below the rising trendline and is now consolidating below 25,900. Intraday recoveries lack strength and have resulted in renewed downward pressure.
The daily RSI is placed near 46, staying below its average line and indicating fading momentum. The MACD remains below the signal line, with the histogram in the negative zone.
On the downside, 25,720–25,650 remains the immediate support zone. A sustained move below this band may open the downside further. On the higher side, 25,950–26,020 continues to act as a strong resistance, and only a decisive close above this zone would allow the uptrend to resume.
 India VIX settled at 9.84, indicating subdued volatility; however, volatility could pick up in the coming days, as India VIX has bounced multiple times from this zone.
Overall, the near-term tone remains range-bound with a mildly cautious outlook. The index is likely to oscillate within the 25,700–26,000 band.
Nifty Bank ended the session at 58,926.75, down 0.18%, extending losses after the sharp rejection seen near the 59,100 zone. The intraday recovery attempts have failed to sustain beyond nearby resistance levels.
The index is currently trading below the Donchian Channel midline at 59,380, which signals that the price has slipped into the lower half of its recent trading range. The lower Donchian band near 58,660 is now coming into focus, suggesting that downside levels are gradually gaining relevance.
The daily RSI is placed near 49, hovering below the neutral zone. The MACD remains below the signal line.
Nifty Bank continues to trade below the descending trendline drawn from the recent peak, with recoveries failing near the 38.2% Fibonacci retracement around 59,000 and the 23.6% retracement near 59,400, while the 50% retracement near 58,500 is keeping the index confined within these Fibonacci bands.
On the downside, 58,700–58,600 remains the immediate support zone. On the higher side, 59,300–59,380 remains a key supply zone, and only a close above this band would allow a move higher.
In the short term, Nifty Bank remains in a corrective phase, with intraday recoveries facing resistance and downside levels gradually being tested.
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