NIFTY OR BANKNIFTY(Trading India)

*Nifty Outlook | 25–05-2026* SGX @23950(+ 187)⬆️ WTI CRUDE @91(-5%)⬇️ *"USDINR @95.7**⬇️ *"GOOD MORNING** Winning streak continued in the last week as key indices in US and Europe added gains for the week. Dow Jones hit a new life high while SPX registered 8 consecutive weeks of gains. Brent Oil formed a Bearish Engulfing candle on the weekly charts indicating more downside in the coming week. Domestic markets remained slightly positive. Nifty has formed a sideways rectangle formation on the daily charts breakout of which is placed above 23,860. Breakdown point is placed at 23,317. Nifty Hourly RSI is slowly but gradually improving. Nifty IT saw a strong bounce back of +4.31% for the week on the back of above average volumes. Nifty Midcap 100 and Midcap Select Indices remains in relatively much better health. FII Data was particularly Bullish in Banknifty Futures on Friday while Pro Traders were strongly Bullish through Index Options. FII Index Futures positions continue to stay at 2.24 lakh contracts on the short side. Nifty PCR settled at 1.08 with concentration seen at 23,500 Puts and 24,000 Calls. Banknifty witnessed writing at 54,000 Puts. While monthly expiry bias is rangebound, expect markets to breakout of current consolidation in the second half of this week. Broader market is doing better the Nifty and once we cross 23,860/24,000 resistance levels expect more upside to take place. An improving USDINR and further fall in Crude Oil prices should bode well for our markets. Key Levels: Supports at 23,676 and 23,400; Resistance at 23,880 and 24,050.