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Anil Singhvi decodes Nifty50, Bank Nifty Support and Resistance Levels: Ahead of the Muhurat trading session, market sentiment remains upbeat with benchmark indices approaching record levels. Zee Business Managing Editor Anil Singhvi said the Nifty50 could attempt to test the 26,000 mark, though it may face resistance near that psychological level.

Singhvi highlighted that the ongoing rally in banking stocks continues to support overall market strength. He said strong quarterly results have boosted investor confidence across the sector.

“Good earnings have ignited enthusiasm in banking shares. The general market view is that banks will deliver the best results over the next year,” he said.

Shares of AU Small Finance Bank, Federal Bank, IDFC First Bank, and Punjab National Bank have surged following their Q2 results. Singhvi also pointed out that the entry of major foreign investors in RBL Bank is a highly positive development.

After a gap-up opening followed by a dip, Nifty found support near 25,875 and Bank Nifty around 57,850, leading to a sharp rebound. Singhvi said the indices may end the session near their intraday highs. However, he added that some profit booking could emerge due to the two-day trading break.

For short-term traders, Singhvi marked 25,700–25,800 on Nifty and 57,700–57,875 on Bank Nifty as strong entry levels. He added that a close above 25,780 (Nifty) and 57,850 (Bank Nifty) could confirm continued upside momentum.

According to Singhvi, the 26,000 mark remains a key resistance area with significant call writing activity.

“It’s a big psychological level. With two market holidays ahead, crossing 26,000 may be difficult,” he noted.

He advised investors to book profits near 26,000 and focus on select mid- and small-cap stocks that have reported strong Q2 performance.

Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.

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