MARKET RECAP: Nifty Recovers, But Geopolitical & Global Cues Keep Direction Unclear

 Good morning, all 

Nifty closed at 24405, up 0.14%
Bank Nifty ended at 54607, up 0.63%

After the sharp fall seen on Tuesday, the markets witnessed a mild bounce-back on Wednesday. The recovery was led by short covering, particularly in Bank Nifty, but both indices remain under key resistance zones.

NIFTY ANALYSIS

Nifty managed to claw back some gains but is still trading below the critical 24450–24500 resistance.
While there's slight strength visible, the candle lacks conviction, especially amid rising geopolitical uncertainty. Notably, there’s news of Indian Army operations and border conflict — yet markets are holding firm, which indicates hidden bullish bias.

OI & PCR Data:

Image from Sensibull

• PCR: 0.68 around ATM and 0.9 overall → Neutral to slightly bullish

• OI in Nifty Futures: Down by -1.72% → Short Covering

• Support: 24300

• Resistance: 24450–24500

View: Neutral
If Nifty holds despite external tensions, bulls may try to take control — but a decisive breakout is needed before taking a directional view.

BANK NIFTY ANALYSIS

Bank Nifty staged a better recovery, rising 0.63% after a heavy drop on Tuesday. However, the index is still stuck below the 55200 resistance zone. The strong drop in OI indicates short covering, not fresh longs.

OI Data:

• OI in Bank Nifty Futures: Down by -8.51% → Short Covering

• Support: 54000

• Resistance: 55200

View: Neutral
Today’s FOMC meeting outcome could become the next directional trigger. Until then, markets may remain sideways with stock-specific moves.

CONCLUSION

Despite geopolitical tensions and weak global cues, the markets are holding steady. But conviction is still missing. Wait for a clear breakout above 24500 or breakdown below 24000 in Nifty or fresh long buildup in Bank Nifty before initiating directional trades.

Let’s see what happens in the market today 📈