Nifty & Nifty Bank Technical Analysis by Samco Securities
by Om Mehra, Technical Research Analyst, SAMCO Securities
đź•— Last Update: 21 November 2025, 8.00 AM
Nifty Stays Upbeat as Nifty Bank Sets a New Lifetime Peak
Nifty ended the session at 26,052.65, up 0.55%, after opening on a flat note and steadily holding strength throughout the day. The index formed a strong bullish candle on the daily chart and continues to maintain a clear higher-high and higher-low formation over recent sessions. Nifty now holds firmly above the middle Bollinger Band and remains comfortably aligned above the 9-EMA and 20-EMA, both of which are sloping upward, reflecting steady upward traction.
On the hourly timeframe, Nifty is shaping a cup-and-handle formation, indicating a positive setup ahead of the next directional move. The RSI has inched up to 64, showing improving momentum, while the MACD remains neutral.
The support is now placed around 25,850–25,800, and holding above this belt keeps the near-term outlook favourable. On the higher side, 26,100–26,150 remains the resistance zone, which is the key barrier before a move toward the all-time high at 26,277.35. As long as Nifty sustains above 25,800, a buy-on-dip approach remains suitable.
Nifty Bank ended the session at 59,216.05, up 0.54%, marking a fresh all-time high after stretching beyond the previous peak of 59,103.65. The index opened on a firm note and sustained its upward drift through the day, closing strong and reflecting persistent upside traction.
Nifty Bank comfortably holds above the 9-EMA and 20-EMA, both of which are angled upward, confirming short-term strength. The index is moving in line with the Fibonacci projection toward 59,450, the 1.618 extension of the recent swing. The RSI remains at 72, indicating firm momentum without showing signs of exhaustion.
The support has now shifted higher to 58,800–58,700. The next measurable zone lies near 59,450–59,500 based on the Fibonacci projection. A sustained close above this region may pave the way for a move toward the psychological 60,000 mark.
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