Today’s Nifty Index Outlook

The Nifty Index index concluded the session at **22,912**, marking a gain of 400 points. This close was notably above the support zone of **22,000-22,500**. The immediate key resistance level is now identified between 23,300 and 23,400. Technically, this range is significant and is expected to act as a strong barrier in upcoming sessions. A breakout above this level could signal fresh buying interest in the market. Beyond 23,400, the next significant resistance zone for the index is projected to be **24,000–24,400**.

Derivatives data reinforces this perspective: the highest Call Open Interest (OI) is concentrated around the **24,000–24,100** strikes, indicating a substantial resistance cap. Conversely, significant Put Open Interest (OI) at the **22,000–22,500** strikes confirms a solid support base. Overall, while the broader market sentiment remains positive, traders are cautioned to remain vigilant due to ongoing global trade uncertainties and potential developments related to interest rates/fees.

Nifty Index Support and Resistance Levels

Exponential Moving Averages (Nifty Index)

Bank Nifty Index Index Prediction for Today

Bank Nifty Index Index Support and Resistance Levels

Exponential Moving Averages (Bank Nifty Index Index)

Today’s Stock Market News and Events

Positive News

• NTPC Green: Signed a Memorandum of Understanding (MoU) with Nxtra Data to develop renewable energy projects.
• Waaree Energies: Approved a capital expenditure (capex) plan of ₹3,900 crore for setting up a glass manufacturing plant.
• Seagull India: Received two orders totaling ₹397 crore from Poorva Green Power.
• ACME Solar: Commissioned the second phase (35.71 MW) of its Battery Energy Storage System (BESS) project.
• BPCL: Its joint venture with Cemcorp secured a contract to supply 10 KTPA green hydrogen to Numaligarh Refinery. Additionally, BPCL commissioned its 2G bioethanol refinery in Bargarh (HURL).

Neutral/Negative News

• Avenue Supermarts: Opened two new stores in Telangana and Andhra Pradesh, bringing its total store count to 469.
• Oil India/ONGC: Oil prices experienced a sharp decline, with Brent falling below $100/bbl, as the West Asian conflict showed signs of cooling (Negative impact).