Nifty and Bank Nifty overview for Monday:

📈 Nifty 50 Outlook

The general near-term sentiment is often described as Sideways to Bullish

• Key Resistance:

  • The immediate hurdle is around the 26,000 – 26,050 zone.

  • A strong breakout and close above this level could open the path toward 26,100 and potentially 26,250 – 26,400.

• Key Support:

  • Immediate support is seen around 25,800 – 25,750.

  • The crucial support level for maintaining the bullish sentiment is around 25,700. A sustained break below this could invite profit-booking.

• Range: The likely trading range is anticipated to be between 25,750 and 26,050.

🏦 Bank Nifty Outlook

Bank Nifty has shown relative strength and the overall technical setup is also considered Sideways to Bullish, especially as it attempts a fresh breakout.

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  Key Resistance:

  • Immediate resistance is around 58,600 – 58,800.

  • A decisive move above 58,600 could confirm a potential bullish flag pattern and set the stage for a rally toward 59,000 and potentially 60,000.

• Key Support:

  • The strong immediate support is at 58,200 – 58,000.

  • Holding above the 58,000 mark is crucial for maintaining the positive sentiment.

• Range: The likely trading range is anticipated to be between 58,200 and 58,800.