The Indian equity market witnessed a strong recovery in today’s session, rewarding investors who stepped in to buy during the initial decline. Market participants are now closely watching the closing levels, as today’s close is considered highly significant for the near-term trend.
According to market experts, a decisive closing above the 26,100 mark on the Nifty could open the door for a one-sided upward move. Both the Nifty and Bank Nifty respected their respective stop-loss levels, indicating underlying strength in the market.
Bank Nifty has now entered its first resistance zone, where some consolidation or mild profit-booking cannot be ruled out. However, the overall sentiment remains positive, supported by a notable improvement in market breadth, suggesting broader participation in the recovery.
The intraday rebound highlights renewed buying interest at lower levels, reinforcing confidence among traders. Going forward, sustained strength above key resistance levels will be crucial in determining whether the current recovery transforms into a stronger bullish trend.