Indian Markets: Key Drivers and Trends

“The Bank Nifty index after hitting the record high level and the strong breakout witnessed in the previous session, the index has consolidated near the 59,800 zone with bias maintained intact anticipating for further upward move in the coming days with most of the frontline banking stocks well poised for further rise with most of the technical parameters well placed. The index would have the near-term support positioned near the 58,600 zone and, on the upside, can expect fresh higher targets of 61,400 and 63,500 levels in the coming days, as mentioned earlier.”

“The Nifty 50 index witnessed a range-bound session with overall consolidation visible at the peak zone of 26,200 level with bias and sentiment maintained with an optimistic approach and can expect further rise in the coming days. The index would have the important support near the 25,750-25,800 band, which needs to be sustained, and on the upside, with the undertone maintained strong, we can have fresh upside targets of 26,500 and 27,200 levels in the coming days.”