Nifty and Bank Nifty Rally Strong: Bulls in Command

Good morning, everyone! 

The bulls came roaring back yesterday!
Both Nifty and Bank Nifty witnessed strong buying throughout the day, with clear signs that momentum remains on the upside.

Let’s break it down:

NIFTY Analysis

Nifty closed at 24328, rising by 1.20%.
Strong bullish candle on the daily chart — a good sign for continuation.

Nifty managed to comfortably hold the 24300 mark and showed strength throughout the session. If it starts moving above 24350 today, we could see further acceleration on the upside.

📊 OI & PCR Data:

Image from Sensibull

• PCR around ATM: 0.91

• PCR Overall: 1.2 → Bullish bias

• Open Interest (OI) in Nifty Futures: Up by 8.13% → Long Buildup seen

🛡️ Key Support Levels:

• 24200

🎯 Key Resistance Levels:

• 24500

🔎 View:
The trend remains bullish.
As long as Nifty holds above 24200, the buyers remain in control.
Watch for a move above 24350 for confirmation of further upside.

BANK NIFTY Analysis

Bank Nifty closed at 55432, up by 1.41%.

Bank Nifty staged a strong comeback after some mild profit booking last week. Buying interest was visible across major banking stocks, helping Bank Nifty climb back strongly.

OI & PCR Data:

• Open Interest (OI) in Bank Nifty Futures: Up by 1.95% → Long Buildup seen

Key Support Levels:

• 54500

Key Resistance Levels:

• 56100

View: The trend is positive.
Bank Nifty could face a minor hurdle around 56000–56100, but overall structure looks bullish.
A breakout above 56100 can open up more upside possibilities.

Final Thought:
Strong price moves with supporting OI buildup = clear bullish momentum.
Stay positive but alert at key resistance levels!

Let’s see how the market plays out today. 📈