Morning Market View:
Nifty is holding above its immediate support zone around the 21,800–22,000 range, which remains a crucial level for sustaining bullish momentum; a breakdown below this could trigger further selling pressure toward 21,500. On the upside, resistance is placed near 22,300–22,500, and a decisive breakout above this zone can lead to a short covering rally toward higher levels.
Bank Nifty has slipped below key support zones around 54,500–55,000, which now acts as an immediate resistance area; unless this level is reclaimed, upside remains capped. On the downside, immediate support is seen near 53,500–53,000, and a break below this zone could extend the fall toward 52,500 levels. Indicators are also not supportive—RSI is hovering near oversold territory and MACD remains in sell mode
Stocks in News:
NLCINDIA: joint venture with UP Rajya Vidyut Utpadan Nigam has started coal production at the Pachwara South coal block.