As expected, Nifty increased last week breaking over 24,000. Nifty Bank Index also played 56,000. However, both indices have dropped sharply on Friday. The broader perspective remains optimistic. Nifty 50 and Nifty Bank Index can see a slight correction this week and then a new rally leg can occur.
NIFTY can fall to 23,500-23,300 at a break below 23,900. After this fall, Nifty can get up again and rape 24,400 to aim at 25,000 on the rise.
The NIFTY banking index can fall to 53000 or 52,800. From then on, you can return to 56,000 initially and then to 58,000 Angealle.
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Posted on April 26, 2025