Positive Sentiment Drives Nifty Higher, Resistance in Sight

The Nifty 50 closed the week on a positive note, rising nearly 1%, supported by strong macro cues and sectoral gains.

RBI Policy Boost:

The Reserve Bank of India kept the repo rate unchanged at 5.50% for the second straight meeting while raising FY26 GDP growth to 6.8% and lowering the inflation forecast — a move that lifted overall market sentiment.

Sector Highlights:

Banking stocks led the rally, with Bank Nifty up over 2% as private lenders like Kotak Mahindra Bank and Axis Bank posted solid gains.

Metals also shined, with Nifty Metal up 1.85%, driven by optimism over potential Fed rate cuts and a weaker dollar.

Key Levels to Watch:

Resistance: 25,000–25,100 remains a tough barrier. A breakout above 25,100 could spark a rally toward 25,400.

Support: 24,400–24,500 is the key zone to hold. A dip below this may trigger renewed selling pressure

Outlook:

The market is expected to consolidate within the current range, with sector rotation likely to drive short-term moves. Overall sentiment remains constructive as long as Nifty holds above key support levels.