Nifty and Nifty Bank index came under pressure last week. The geopolitical tension between India and Pakistan is weighing on the markets. However, on the charts, nothing has changed much. The broader picture remains bullish. Supports are there to limit the downside in the Nifty 50 and Nifty Bank index. We expect the Indian markets to bounce back going forward.
Nifty has supports at 23,850 and 23,600. Nifty 50 can reverse higher from either of these supports and rise to 28,000 and higher in the coming weeks.
Nifty Bank index has supports at 53,450 and 52,500. A bounce from either of these two supports can take the Nifty Bank index up to 57,500-58,000
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Published on May 10, 2025