The NSE Nifty 50 is expected to face selling pressure on Monday, amid elevated crude, Strait of Hormuz-related disruption, rising global yields and persistent Foreign Institutional Investor (FII) outflows.
On Thursday, The NSE market capitalisation eroded by around Rs 5 lakh crore, as the Nifty ended in the red for the eighth straight week, declining 3%.
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The index finds support at 22,600-22,400 levels as per analyst Sudeep Shah, vice president of Technical and Derivatives Research at SBI Securities.
"The end of the losing streak does not necessarily signal the end of the broader downtrend. The 22,600–22,400 zone will be crucial. A sustained hold could trigger a pullback, while a decisive breakdown would increase the risk of another leg lower," Shah said.
Nifty ended the session at 22,421.95, down 0.88%, forming a bearish candle after testing an intraday low of 22,217.30, just above the important swing low of 22,182, made on 2 April 2026, Om Mehra, technical research analyst, SAMCO Securities, noted.
"The immediate support is placed at 22,200, followed by 22,000. On the upside, 22,650 remains the key resistance, followed by 22,750," Mehra said.
Bank Nifty
From a technical perspective, the 53,800-53,700 zone will act as a crucial support area for the Bank Nifty index, as per Shah. On the upside, the 55000-55200 region is expected to remain a key resistance band.
"A sustained move above 55,200 could trigger a stronger pullback rally towards 56,000, followed by 56,500 in the short term," the analyst said.
The Nifty Bank ended the session at 54,450.75, down 0.33%, forming a bearish candle and failing to hold the early recovery. On the weekly chart, the index closed down 2.03%, marking its sixth consecutive weekly loss, according to Om Mehra.
Overall, while the broader trend remains cautious, the recent relative strength and ratio breakout suggest that Bank Nifty may continue to outperform the benchmark indices in the coming sessions, according to Shah.
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