Nifty, Bank Nifty Set for Fresh Rally: Trend Reversal Confirmed?

Last week we said that All is well for the Indian markets. In line with that, the Nifty and Nifty Bank index have surged last week. Nifty Bank index has made a #bullish #breakout. #Nifty50 is also showing strong signs of a trend reversal on different charts, especially in the ichimoku cloud chart

So, broadly, Nifty and Nifty Bank index is All Set to see new leg of upmove for the rest of the year.

Nifty has support at 23,400-23,400. Resistance is around 24,000. We expect the Nifty to break 24,000 and rise to 24,500-25,000 in the short-term

Nifty Bank index has support at 52,500. The outlook is bullish to see 58,000 on the upside.

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Published on April 19, 2025

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