The NSE Nifty 50 finds immediate support in the 24,350-24,300 zone amid Indian equity indices extending their losses for the fourth straight session, according to Sudeep Shah the head of technical and derivatives research at SBI Securities.
"This zone acted as a strong support in the month of August 2025. Any sustainable move below this zone could result in Nifty extending its weakness towards 24100, followed by 23800 in the short term," Shah said.
The analyst identified the zone of 24,650–24,700 as an immediate resistance.
Bajaj Broking's market research indicated that volatility is likely to remain elevated amid uncertain global cues and escalating geo-political tension.
"A follow through weakness below Wednesday low (24,305) can lead to a test of the support area of 24,200-24,000 being the value of the trendline," the brokerage said.
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Bank Nifty
Bank Nifty finds immediate support at 58,200–58,100 levels, according to Shah.
"Any sustainable move below this zone could result in Bank Nifty extending its weakness towards 57,700, followed by 57,300 in the short term," Shah said.
The Bank Nifty index formed a small bull candle with an upper shadow and a bearish gap above its head ( 59,840-59,058) signalling continuation of the corrective trend, according to Bajaj Broking.
On the upside, the zone of 59,200–59,300 zone is likely to act as an immediate resistance, according to Shah.
Bajaj Broking noted that immediate bias remained down and traders should use intraday pullback as a selling opportunity. "The index is likely to consolidate in the range of 58,000-60,000 in the coming sessions. A breakout or a breakdown will signal next directional movement," the brokerage said.
Market Recap
Indian equity benchmarks extended losses for the fourth consecutive trading session — their longest losing streak since January — amid a global selloff triggered by the escalating crisis in the Middle East. The BSE Sensex fell over 1,100 points to close near 79,100, while the NSE Nifty 50 fell 1.5% to end below 24,500.
Both the benchmark indices recouped nearly half of their losses it clocked during the morning trade, led by the gains in Bharti Airtel Ltd. and Infosys Ltd.
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