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Nifty and Nifty Bank index saw a good recovery last week. However, on Saturday the rise has stalled. The Union Budget has failed to give the much-required push to take the indices higher. The initial reaction for the Union Budget 2025 has been mixed. We will have to wait and see how things unfold going forward and see if the indices are getting a strong follow-through rise from here or not.
Nifty 50 has to break its resistance at 23,800 and then rise above 24,000 to gain bullish momentum. IF that happens, Nifty can see a rise to 24,300-24,400. Failure to breach 23,800 can drag the Nifty50 down to 23,500 and 23,000 again.
Nifty Bank index has to break above 50,000 in order to go up to 51,000 and 52,000. Else Nifty Bank index can fall back to 48,000 and keep the 48,000-50,000 range intact.
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