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پستهای کانال
On the downside, immediate support lies at ₹2,15,000–₹2,14,000, with the next support at ₹2,12,000, coinciding with the 50-week EMA; a break below ₹2,12,000 would expose deeper downside and weaken the medium-term structure toward ₹2,10,000. Overall, with price losing short-term momentum, the bias stays cautious-to-range-bound, with a decisive move above immediate resistance needed to shift sentiment back in favour of buyers.
NYMEX Crude Oil
NYMEX Crude Oil snapped its bullish run this week, sliding to a low near $78 before recovering off support to close near $84.70. Immediate resistance stands at $86–$87; a sustained move above this could extend prices toward $88–$89, with $90 in focus if momentum builds. On the downside, $83.30–$82 acts as immediate support; a break below could ease momentum toward $80.60, with a stronger base near $78. The weekly candle formed a hanging man, pointing to fading upside momentum, though a lower close in the coming sessions is needed to confirm the reversal.
MCX Crude Oil
MCX Crude Oil snapped its bullish run this week, sliding to a low near ₹7,500 before recovering off support to close near ₹8,100. Immediate resistance stands at ₹8,250–₹8,350; a sustained move above this could extend prices toward ₹8,450–₹8,500, with ₹8,600 in focus if momentum builds. On the downside, ₹8,000–₹7,900 acts as immediate support; a break below could ease momentum toward ₹7,800, with a stronger base near ₹7,600. The weekly candle formed a hanging man, pointing to fading upside momentum, though a lower close in the coming sessions is needed to confirm the reversal.
MCX Natural Gas
MCX Natural Gas extended its downside this week, sliding to a low near ₹254 before recovering to settle near ₹263. Immediate resistance stands at ₹266–₹268; a sustained move above could rebuild momentum toward ₹270–₹273. On the downside, ₹260–₹258 acts as immediate support, with a decisive break below ₹254 exposing ₹250–₹248 if the decline extends. The week's sharp bearish candle keeps the bias lower, though RSI nearing oversold and fading MACD momentum hint at a possible pause. A break below ₹254 would confirm further downside.
USD/INR
The Indian rupee strengthened sharply this week, settling near the ₹95.35 level against the U.S. dollar after recovering from the week's lows around ₹96.55. The currency closed near the lower end of the USD/INR pair's long-term trendline, reflecting improving momentum in favour of the rupee.
From a technical perspective, the ₹95.55–₹95.65 zone remains the immediate resistance for the USD/INR pair. A sustained move above this range could cap the rupee's recent appreciation and push the pair towards ₹95.80, bringing the ₹96 mark back into focus. On the downside, the ₹95.25–₹95.10 zone serves as the immediate support for the pair, while a decisive break below could pave the way for further rupee strength towards the ₹94.70 region.
The formation of a strong bearish Marubozu on the weekly chart suggests that the near-term bias continues to favour the rupee, supported by easing U.S. dollar demand and improving domestic fundamentals. However, the currency's trajectory will remain sensitive to crude oil prices, geopolitical developments and broader global risk sentiment.
| 2 | Investors will also closely monitor upcoming U.S. inflation and labour market data, Federal Reserve commentary, Treasury yield movements and the U.S. Dollar Index for fresh clues on the interest-rate outlook. Domestically, the Reserve Bank of India's policy decision will be another key event, particularly for its implications for the rupee and imported inflation. While elevated geopolitical risks and supply concerns are likely to keep crude oil well supported, a firm U.S. dollar and higher bond yields could continue to limit the upside in precious metals. Overall, volatility is expected to remain elevated across the commodity complex as investors navigate an uncertain geopolitical and macroeconomic environment.
Technical Outlook
COMEX Gold
COMEX Gold enters the new trading week at $4,098, up marginally (+0.89%) on the weekly close, but the broader structure remains under pressure with price trading below its 20-week and 50-week EMAs. Immediate resistance is placed at $4,160.0–$4,180.4, followed by the next resistance zone at $4,220.0–$4,240.0; a sustained weekly close above $4,240 would be needed to stabilise the trend and open room for a deeper recovery. On the downside, immediate support lies at $4,090–$4,070, with the next support at the $4,000 psychological mark; a break below $4,000 would expose the metal to a retest of the $3,900.0–$3,920.0 zone. The daily chart shows price attempting to hold above its 20-day EMA, but with price still capped below the 50/100/200-day EMAs (all above $4,200), the path of least resistance stays sideways-to-lower unless $4,240 is reclaimed decisively.
MCX Gold
MCX Gold October futures enter the new trading week at ₹1,43,376,. While the contract continues to exhibit a mildly positive bias, it remains well below its 20-week and 50-week exponential moving averages (EMAs). Meanwhile, the weekly RSI remains largely flat, indicating subdued momentum and suggesting that the near-term outlook remains cautious. Immediate resistance is placed at ₹1,44,000–₹1,44,300, followed by the next resistance zone at ₹1,45,300–₹1,45,700; a sustained close above ₹1,45,700 would be needed to shift the medium-term bias back in favour of buyers. On the downside, immediate support lies at ₹1,43,000–₹1,43,300, with the next support at ₹1,42,000–₹1,42,300; a break below ₹1,42,000 would expose deeper downside toward ₹1,40,000. The daily chart shows price holding above its rising 200-day EMA, suggesting stabilisation after the recent decline but with price still capped below the 50/100-day EMAs, a decisive move above ₹1,44,300 is needed to confirm a shift toward a more sustained recovery.
COMEX Silver
COMEX Silver enters the new trading week at $57.785, down -1.90% on the weekly close after slipping from the $60.4 mark, with the weekly RSI edging lower, signalling weakening momentum. Price also remains below both its 20-week and 50-week EMAs, confirming the broader corrective structure is still intact. Immediate resistance is placed at $59.00–$59.50, followed by the next resistance zone at $60.50–$61.00; a sustained weekly close above $61.00 would be needed to stabilise the trend and shift the near-term bias back toward buyers. On the downside, immediate support lies at $57.50–$57.00, marking this week's low, with the next support at $55.50–$55.00. Overall, with price trading below its short and medium-term EMAs and RSI edging lower, the path of least resistance stays tilted to the downside unless $59.50–$60.50 is reclaimed decisively.
MCX Silver
MCX Silver enters the new trading week at ₹2,17,198, down sharply (-2.22%) on the weekly close, with the weekly RSI easing, reflecting fading momentum and a cautious tone heading into the new week. Price is trading below its 20-week EMA but continues to hold above the rising 50-week EMA, keeping the broader medium-term structure intact for now. Immediate resistance is placed at ₹2,18,000–₹2,19,000, followed by the next resistance zone at ₹2,21,000–₹2,22,000; a sustained close above ₹2,22,000 would be needed to revive the recovery attempt. | 96 |
| 3 | Weekly Outlook on Gold, Silver & USD/INR by Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealthtech firm.
Weekly Wrap: Energy, Rates and Geopolitics Take Centre Stage
Commodity markets had a turbulent week as the U.S.-Iran conflict lurched repeatedly between de-escalation and renewed hostilities, driving sharp swings in oil prices, while the Federal Reserve's decision to hold interest rates steady on Wednesday allowed gold to hold firm even as the central bank maintained a relatively hawkish tone. The Indian rupee also staged a notable rally against the U.S. dollar, reversing the weakness seen in recent weeks.
Oil experienced one of its most volatile weeks in months, trading in a wide range as the conflict's stop-start nature repeatedly whipsawed the geopolitical risk premium. Prices fell sharply early in the week on hopes of de-escalation before rebounding mid-week as hostilities flared again, only to ease once more by Friday after Washington paused strikes overnight. Crude settled around $86 per barrel, remaining on track for a monthly gain of more than 20%. Escalating geopolitical tensions and fears of further supply disruptions kept the risk premium elevated throughout the week, reinforced by concerns over tighter global supplies and expectations of robust summer fuel demand. Supply risks remained elevated into the weekend, with reports of Iran's Revolutionary Guard turning back tankers in the Strait of Hormuz, Saudi Arabia convening 43 countries to form a maritime coalition to protect Red Sea shipping following a Houthi blockade, fresh disruption at Kazakhstan's Black Sea export terminal, and a Ukrainian strike on Russia's Volgograd refinery.
The week's key macroeconomic event was the Federal Reserve's decision to leave interest rates unchanged while reiterating that future policy decisions would remain data dependent. The Fed's relatively hawkish stance, combined with a still-resilient labour market and sticky inflation expectations driven by the recent rise in oil prices, reduced expectations of near-term rate cuts and pushed the implied probability of a September rate hike to roughly 63%. Treasury yields firmed and the U.S. Dollar Index strengthened in the immediate aftermath, limiting investor appetite for precious metals even as intermittent safe-haven demand emerged in response to geopolitical developments.
Gold and silver remained volatile throughout the week, with safe-haven buying repeatedly capped by higher bond yields and a firmer U.S. dollar, which increased the opportunity cost of holding non-yielding assets. Gold rallied roughly 2% following the Fed's policy decision and extended those gains into Thursday as the dollar softened later in the week. Silver was comparatively steady, trading within a relatively narrow range, while the broader precious metals complex maintained a cautious tone as investors awaited fresh macroeconomic catalysts and greater clarity on the Federal Reserve's policy path.
The Indian rupee extended its week-long rally against the U.S. dollar, with USD/INR falling to a fresh two-week low near ₹95.30 by Friday as the dollar broadly weakened later in the week.
Weekly Outlook: Middle East Tensions Remain the Key Wildcard
Looking ahead, commodity markets are likely to remain highly sensitive to both macroeconomic developments and geopolitical headlines. The durability of the current pause in hostilities between the United States and Iran remains the key variable for energy markets, given how quickly previous periods of de-escalation have unraveled. Any renewed military escalation or disruption to shipping through the Strait of Hormuz could reignite the geopolitical risk premium in crude oil, intensify inflation concerns and add fresh volatility across commodity markets. Conversely, a sustained ceasefire could ease pressure on energy prices, improve broader risk sentiment and provide additional support to precious metals. | 103 |
| 4 | Made a high of 571.80,
Can book profit at this level. | 154 |
| 5 | BUY CRUDEOIL 8200 PE 17 AUG
ABV 535
SL 485
TRGT 585/520
Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf | 189 |
| 6 | Due to tight consolidation,
Saeg traders exit at cost. | 247 |
| 7 | Safe traders can book profit at 93 or Modify SL to Cost | 256 |
| 8 | USD/INR
The Indian rupee is trading near the ₹95.3 level against the U.S. dollar, extending its recent gains. From a technical perspective, immediate resistance for the USD/INR pair is seen in the ₹95.40–₹95.46 zone. A sustained move above this range could limit the rupee's appreciation and push the pair towards the ₹95.60–₹95.75 region.
On the downside, the ₹95.25–₹95.20 zone remains the key support for the USD/INR pair. A decisive break below this area would signal further strength in the Indian rupee and could drive the pair towards the ₹95.10–₹95.00 levels. Despite the rupee's recent resilience, volatility is likely to remain elevated as investors closely monitor geopolitical developments, crude oil prices, potential RBI intervention, and broader U.S. dollar trends. | 253 |
| 9 | Overall, bias stays cautious, with a hold needed to sustain the recovery toward $4,180; a break below risks a slide back toward $4,000.
MCX Gold
MCX Gold opened with a gap up near ₹144,000 mark, up 0.58% on the day, extending the recovery seen over the past few sessions. The daily chart shows price climbing out of its recent consolidation zone. Immediate support is at ₹143,300-143,000, with next support at ₹142,300-142,000. On the upside, immediate resistance is at ₹144,000-144,300, and a break above targets next resistance at ₹145,300-145,700. Gold's firmer tone tracks the global recovery, aided by dollar weakness. Overall, bias stays constructive, with a sustained move needed to clear ₹144,300 and open the path toward higher levels; a slip below ₹143,000 would weaken the recovery.
COMEX Silver
COMEX Silver opened on a steady note but has pulled back to $58.600 mark, giving back part of the recovery seen in the previous session. The daily chart shows price consolidating in a choppy range after finding support near $57.000, with sellers stepping in around the $60.500 mark. Immediate support is at $57.500-57.000, with next support at $55.500-55.000. On the upside, immediate resistance is at $60.500-61.000, and a break above targets next resistance at $63.000-63.500. Silver's softer tone today mirrors the pullback in gold, with risk-off positioning and dollar dynamics weighing on the broader precious metals complex, even as the metal's longer-term case stays supported by resilient industrial demand and a structural supply deficit. Overall, bias stays cautious, with a hold above $58.000 needed to keep the recovery intact; a break below risks a slide back toward $57.000.
MCX Silver
MCX Silver opened at ₹218,769 and is holding above ₹219,000, consolidating after finding support near ₹214,000-215,000 on the daily timeframe. The daily chart shows price recovering in a choppy range. Immediate support is at ₹218,000-217,000, with next support at ₹215,000-214,000. On the upside, immediate resistance is at ₹221,000-222,000, and a break above targets next resistance at ₹224,000-225,000. Silver is trading softer even as gold trades firmer today, reflecting some profit-booking after recent gains and silver's greater sensitivity to industrial-demand sentiment, even as the metal's longer-term case stays supported by resilient industrial demand and a structural supply deficit. Overall, bias stays cautious, with a hold above ₹218,000 needed to keep the recovery intact; a break below risks a slide back toward ₹215,000.
MCX Crude Oil
MCX Crude Oil opened with a gap-down and is currently trading near the ₹7,860 mark, reflecting softer global crude prices despite continued geopolitical tensions in the Middle East. Technically, the ₹7,840–7,810 zone remains the immediate support. Holding above this region will be crucial to prevent further downside, while a decisive break below ₹7,810 could drag prices towards the ₹7,700–7,650 zone.
On the upside, ₹8,000 is the immediate resistance, followed by the ₹8,080–8,150 zone. A sustained move above ₹8,000 would be required to revive bullish momentum and support a recovery towards the ₹8,150–8,200 region. Overall, the near-term outlook remains cautiously bearish, with price action likely to remain volatile as traders continue to track geopolitical developments and global crude oil trends.
US WTI Oil
US WTI Crude Oil has eased slightly and is currently trading near the $82.2 per barrel mark after failing to sustain above the $84 resistance zone. Technically, the $82.0–81.6 zone remains the immediate support. Holding above this range will be crucial to prevent further weakness, while a break below $81.6 could drag prices towards the $80.0 psychological level.
On the upside, $84.0–84.2 remains the immediate resistance, followed by $85.4. A sustained move above $84.2 would be required to revive bullish momentum and support a recovery towards the $85.0–85.5 region. Overall, the near-term outlook remains cautious, with geopolitical developments likely to keep crude oil prices volatile. | 223 |
| 10 | Equity, Commodities & INR Market Opening Outlook from Ponmudi R, CEO of Enrich Money, outlining the key market trends observed at the opening bell.
Indian equity markets opened on a steady note, extending their recent gains as robust corporate earnings continued to outweigh global macroeconomic concerns. The improving domestic outlook has helped trigger a temporary revival in foreign institutional inflows, providing additional support to investor sentiment. Meanwhile, the Indian rupee strengthened modestly and is trading around the ₹95.3 level against the U.S. dollar.
On the geopolitical front, tensions remain elevated as the United States and Iran continue to exchange strikes, keeping geopolitical risks at the forefront of global investor attention. Despite the heightened uncertainty, crude oil prices have eased modestly and are currently trading near the $82 per barrel mark.
Sectorally, the recent rally in information technology stocks has paused following a strong run over the past week, with investors locking in profits after the sharp advance. Financials have emerged as the key outperformers, rising more than 2% in early trade, while the automobile sector is also trading firmly, helping offset the temporary weakness in IT and providing broader support to the market. Overall, strong corporate earnings continue to underpin domestic sentiment, although investors remain watchful of geopolitical developments, crude oil prices and global policy signals.
Technical view
Nifty 50
Nifty 50 opened on a marginally positive note near the 24,361 mark, extending its recent recovery and reflecting sustained bullish sentiment in early trade. From a technical perspective, the index needs to hold above the 24,300 level and decisively break through the 24,400 resistance zone, which remains the immediate and crucial hurdle. A sustained move above this band could reinforce bullish momentum and pave the way for an advance towards the 24,500–24,600 region.
On the downside, the 24,200 zone continues to act as the immediate support. Holding above this level will be crucial to preserve the prevailing recovery structure, while a decisive break below 24,200 could trigger short-term profit booking and drag the index towards the 24,000 psychological support. The RSI continues to gradually strengthen, hovering near the 60 mark, indicating improving momentum and sustained buying interest without entering overbought territory. The MACD line remains above the Signal line, confirming that positive momentum is intact. Overall, the near-term technical outlook remains positive.
Bank Nifty
Bank Nifty opened on a mildly positive note near the 57,127 mark, in line with the broader market sentiment. However, the index continues to face supply pressure near the 57,300–57,400 resistance zone, making this the key hurdle for the ongoing recovery. A decisive and sustained breakout above 57,400 will be essential to strengthen bullish momentum and could pave the way for an advance towards the 57,800–58,000 region.
On the downside, the 56,800–56,700 zone remains the immediate support and will be crucial to monitor. Holding above this range will help preserve the current recovery structure, while a decisive break below 56,700 could accelerate selling pressure and drag the index towards the 56,400–56,300 support zone, which also coincides with the 100-day Exponential Moving Average (EMA), adding further technical significance to this level. Overall, the near-term technical outlook remains cautiously positive.
COMEX Gold
COMEX Gold opened at $4,163.9 and has pulled back, down 0.69% on the day, retracing part of the past week's rally. The daily chart shows price cooling off from resistance after a strong two-session bounce, now consolidating below recent highs. Immediate support is at $4,090-4,070, with next support at $4,000-3,980, the key psychological base. On the upside, immediate resistance is at $4,160-4,180, and a break above targets next resistance at $4,220-4,240. Gold's pullback comes after a strong run driven by dollar weakness. | 184 |
| 11 | BUY TCS 2340 CE 25 AUG
AT 88
SL 76
TRGT 100/108
Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf | 183 |
| 12 | BUY SENSEX 78000 PE 06 AUG
AT 430-440
SL 390
TRGT 490/530
Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf | 199 |
| 13 | On the downside, immediate support is seen in the 56,700–56,800 zone. Holding above this range would keep the ongoing recovery intact, while a decisive break below 56,700 could trigger fresh selling pressure and expose the index to the next support area around 56,400–56,300. Overall, the near-term technical outlook remains cautiously constructive, with price action likely to remain guided by key support and resistance levels. | 217 |
| 14 | Morning Market Outlook by Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm.
Indian equity markets are poised for a steady start, extending their recent recovery as a sharp rally on Wall Street and a broad rebound across Asian markets improve global risk sentiment. Stronger-than-expected guidance from Microsoft reignited investor optimism toward technology stocks, fuelling renewed buying across the sector and providing a supportive backdrop for global equities. GIFT Nifty futures are hovering around the 24,400 mark, compared with the Nifty's previous close of 24,317, indicating a positive opening for domestic markets. Data showing Foreign Portfolio Investors (FPIs) turning net buyers of domestic equities, with purchases exceeding ₹3,600 crore in the previous session despite an uncertain geopolitical backdrop, is expected to provide an additional boost to investor sentiment and reinforce confidence in the resilience of Indian markets.
Asian equities are trading firmly higher, led by a powerful rebound in South Korean markets, where the Kospi has surged more than 15% as upbeat corporate earnings revived confidence in the artificial intelligence theme and triggered renewed buying in semiconductor stocks. Japan's Nikkei 225 has also advanced more than 5%, reinforcing the improvement in regional risk appetite. While the recovery in global technology stocks is expected to lend near-term support to Indian equities, investors are likely to remain watchful of geopolitical developments and their potential impact on energy prices and overall market sentiment.
Geopolitical risks remain elevated as tensions in the Middle East continue to escalate, with the United States and Iran exchanging fresh strikes, underscoring the expanding nature of the conflict. Tehran's latest warning that the U.S. will "pay the price" for its actions has reinforced concerns that the standoff is unlikely to ease in the near term, keeping investors focused on the potential for further escalation and its implications for global markets.
Energy markets remain a key area of concern. Crude oil prices have surged more than 20% over the past month-one of the strongest rallies in recent years, as the U.S.-Iran conflict continues to heighten concerns over global energy supplies and key shipping routes. WTI crude is currently trading near the $84 per barrel mark. For India, persistently elevated oil prices remain the most significant external risk, given their potential to widen the import bill, pressure the rupee and complicate the inflation outlook, even as broader market sentiment improves.
Technical view
Nifty 50
Nifty 50 is expected to witness a constructive opening, with the index attempting to build on its recent recovery as it continues to trade above key short-term support levels. Technically, the 24,300–24,400 zone, which also coincides with the 200-day Exponential Moving Average (EMA), remains the immediate resistance. A sustained breakout above this band could reinforce bullish momentum and pave the way for an advance towards the 24,500–24,600 region.
On the downside, the 24,200 zone is expected to provide immediate support, followed by the psychologically significant 24,000 mark. Holding above these levels will be important to preserve the prevailing recovery structure and keep the broader uptrend intact. Momentum indicators continue to strengthen, with the Daily RSI having generated a bullish crossover and currently hovering near the 58 mark. Overall, the near-term technical outlook remains positive.
Bank Nifty
The Bank Nifty is expected to maintain a cautiously constructive bias, supported by improving sentiment across the broader market. From a technical perspective, the 57,300–57,400 zone remains the immediate resistance band. A decisive break above this range could strengthen bullish momentum and pave the way for a move towards 57,800–58,000. | 215 |
| 15 | Made a high of 551, safe traders can book profits | 210 |
| 16 | BUY CRUDEOIL 8000 CE 17 AUG
ABV 520
SL 480
TRGT 560/580
Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf | 224 |
| 17 | BUY NATURALGAS 270 PE 24 AUG
AT 18.2-18.5
SL 16.5
TRGT 21
Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf | 236 |
| 18 | Today's candle resembles a hammer-like formation on the daily chart, hinting at renewed buying interest, though momentum indicators - the daily RSI and MACD histogram remain soft, suggesting the broader recovery attempt needs further confirmation before turning decisively bullish.
Options data continues to indicate a cautious bias, with PCR at 0.89 and Call OI (~1.10 Cr) significantly higher than Put OI (~0.97 Cr); 57,000–57,100 emerges as the key support zone based on Put OI, while 58,000 remains the strongest resistance with heavy Call OI buildup. The index is likely to remain range-bound within 57,000–58,000 for now, a sustained breakout above 58,000 could trigger fresh upside, whereas a break below 57,000 may intensify selling pressure. Overall, today's price action shows encouraging signs of stabilization near the 56,700–56,800 support zone, and a sustained move above 57,400 would strengthen the case for a move back toward 57,800 in the sessions ahead. | 226 |
| 19 | Market Outlook by Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm.
Indian equity markets ended higher on a resilient note, extending their gains despite weak global cues, as strong domestic earnings and sector-specific buying helped offset concerns over renewed U.S.-Iran hostilities and the deepening sell-off in Asian technology stocks.
The Nifty opened on a subdued note and traded in a narrow range for most of the session before late buying lifted the index into positive territory by the close. Automobiles emerged as the best-performing sector, advancing more than 1% after Mahindra & Mahindra's stronger-than-expected first-quarter results boosted sentiment across the space. The Information Technology sector also extended its recent rally, continuing to outperform despite persistent weakness in Asian semiconductor and AI-related technology stocks, highlighting sustained investor preference for India's software exporters.
On the global front, the US-Iran conflict escalated sharply as the US launched a fresh wave of strikes on Iranian targets, with the fighting now spreading wider across the Middle East, including an attack on an Egyptian port. The renewed hostilities kept the Strait of Hormuz largely closed, with few ships passing through, sustaining upward pressure on energy prices and keeping geopolitical risk elevated across markets.
Technical view
Nifty 50
Nifty 50 ended the session on a firm note, gradually reclaiming and sustaining above the 24,300 mark after spending most of the day trading within a relatively narrow range. Technically, the 24,300–24,400 zone continues to remain the immediate and crucial resistance area. A sustained move and close above this band will be essential to confirm stronger bullish momentum and could pave the way for an advance towards the 24,500–24,600 resistance zone, where the next significant supply is expected to emerge.
On the downside, the 24,200 zone is expected to act as the first line of support, followed by the 24,000 crucial psychological mark. Momentum indicators remain supportive. Momentum indicators remain supportive. The Daily RSI (14) is hovering near 57, indicating improving momentum while still remaining comfortably below the overbought zone, suggesting there is room for further upside. Meanwhile, on the 4-hour timeframe, the MACD remains in positive territory above the signal line with expanding positive histogram bars, reflecting strengthening bullish momentum and supporting the prevailing recovery trend.
From the derivatives perspective, the options data also remains constructive. Total Put Open Interest (OI) stands at approximately 14.5 crore, comfortably higher than the total Call Open Interest (OI) of around 11 crore, indicating a mildly positive bias. The highest Put OI is concentrated at the 24,200 strike, followed by 24,000, reinforcing these levels as strong support. On the upside, the highest Call OI is positioned at the 24,500 and 24,600 strikes. However, the 24,300–24,400 zone continues to remain the immediate and crucial resistance area. A sustained move and close above this band will be essential to confirm stronger bullish momentum and pave the way for an advance towards the 24,500–24,600 resistance zone.
Bank Nifty
Bank Nifty ended on a largely flat note after opening marginally lower. The index slipped sharply to the 56,800–56,700 support zone, but buyers defended this level firmly, driving a steady recovery through the rest of the session, with the long lower wick reflecting strong buying interest at lower levels. On the downside, 56,800–56,700 is the immediate support, having held firmly on today's dip; a break below this could open the door toward 56,400–56,300.
On the upside, 57,300–57,400 is the immediate resistance, with 57,800–58,000 as the next hurdle the index would need to clear to resume its recovery. | 217 |
| 20 | Target 110+ done ✅ | 219 |
