Nifty is currently showing a weak-to-sideways bias after recent sharp corrections driven by global uncertainties and profit booking. Technically, momentum indicators like RSI have slipped towards the 40 zone, indicating loss of strength and absence of strong buying interest. Price action suggests the index is trading below short-term moving averages, which keeps the trend slightly bearish unless a decisive recovery is seen. Bank Nifty continues to remain relatively weaker compared to Nifty, with broader banking stocks under pressure. Technical indicators show a “strong sell” bias across moving averages, while RSI is in oversold territory, hinting at possible short-term pullback but no confirmed reversal yet. Structurally, the index needs to hold above 54,000–53,200 support zone to avoid further downside.

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