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Last week we had said that Nifty can rise to 26,000 either straight away or after a dip to 24,500-24,400. This dip has happened first, and the Nifty is attempting to bounce back from its low of 24,462. The broader picture is bullish. We retain our view of the Nifty 50 rising towards 26,000 in the coming weeks.
Nifty Bank on the other hand continues to remain stable and range bound. The price action on the chart indicates that Nifty Bank index could be gearing up for a strong rise.
Overall, the outlook continues to remain bullish for both the Nifty and Nifty Bank index
Nifty can rise to 25,500 and 26,000. A strong break above 25,000 can trigger this rise. If 25,000 caps the upside, then a dip to 24,300-24,250 can happen first and then the rise above 25,000 can be seen.
Nifty Bank index can rise to 57,500-58,000. A break above 56,000 can clear the way for this rise.
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Published on May 24, 2025
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