Nifty Prediction TodayThis week, we finally saw some character from the bulls after several weeks of consolidation and volatility. While many market participants turned cautious during the recent decline, we continued to maintain that the 23,150–23,000 support zone was critical and that Bank Nifty was likely to outperform Nifty. The market played out largely in line with this view, with Bank Nifty rallying more than 4% during the week, moving from levels near 53,000 to almost 57,000. Nifty too witnessed a strong recovery, gaining around 1% for the week and closing comfortably above 23,600. Technically, the index has now broken above a short-term trendline resistance near 23,450, confirming a double bottom formation around the 23,000 zone. While this is an encouraging development, a decisive breakout above 24,100 is still required to confirm the start of a fresh rally that could potentially take the index towards new highs in the coming months. For now, the fact that the market respected key support levels and bounced sharply despite widespread pessimism is a positive sign. When many were worried about a deeper correction, we chose to stay patient and constructive, and the market’s strong rebound once again highlights the importance of focusing on structure rather than sentiment.Nifty Support and Resistance Level L1L2CloseResistance238002400023,622Support2340023200 Exponential Moving AveragesExponential MovingAverages 200 DEMA24,63121 DEMA23,768Bank Nifty Prediction TodayBANK NIFTY once again demonstrated its relative strength and continued to outperform the broader market. In line with our view, the index witnessed a sharp rally of more than 4% during the week, surging from levels near 53,000 to almost 57,000. The strong move reinforces the positive structure that has been developing over the past few weeks and highlights the leadership being shown by the banking space. However, Bank Nifty is now approaching a critical hurdle near 57,500. While a breakout above this level can pave the way for further upside, any failure to cross it may result in some short-term profit booking, which would be healthy and constructive from a longer-term perspective. We continue to maintain our buy-on-dips stance, as the broader trend remains firmly positive. On the downside, 54,000 remains a crucial support level and is likely to act as a strong cushion against any corrective move. As long as this level holds, we expect Bank Nifty to remain in an uptrend and continue outperforming the broader market.Bank Nifty Support and Resistance Level L1L2CloseResistance570005850056,814Support5500053500 Exponential Moving AveragesExponential Moving Averages 200 DEMA56,09521 DEMA54,753Share Market News and Events TodayPositive NewsJSW Energy: Co. successfully commissioned the 150 MW Tidong Hydro Project in Kinnaur, Himachal Pradesh, significantly ahead of its scheduled October 2026 timeline. The run-of-river plant operates under a long-term PPA with UP Power Corporation at a remunerative tariff of Rs. 5.57/KWh, boosting the company’s total installed capacity to approximately 13,900 MW.NLC India: Declared the “Preferred Bidder” for the commercial exploration of the highly strategic Govindpur Mineral Block in Telangana.HG Infra Engineering: Co. Received a formal Letter of Intent (LoI) from REC Power Development and Consultancy to establish an Inter-State Transmission System (ISTS) network grid in Jharkhand.NTPC Green Energy: The ONGC-NTPC joint venture has successfully commissioned a 50 MW solar unit as part of a 300 MW Round-The-Clock (RTC) project in Rajasthan, taking its cumulative solar capacity to 250 MW.ACME Solar: Its subsidiary, ACME Sun Power Pvt, commissioned a 33.3 MW Battery Energy Storage System (BESS) project in Rajasthan to support grid storage architecture.Negative NewsElectrosteel Castings: Co.Announced a temporary operational shutdown at its main Mini Blast Furnace (MBF) production unit for a duration of 10 days to undertake necessary, routine asset-integrity and preventative maintenance schedules..Aurobindo Pharma: The US FDA has classified the inspection outcome at its arm’s Telangana manufacturing facility (Eugia Pharma Specialities) as ‘Official Action Indicated’ (OAI) after concluding the inspection with 11 procedural observations

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