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Market Preview
Nifty marches ahead; nearing 25500 zone
Nifty has been gaining since the last 3 weeks and has almost arrived near the important zone of 25500 level, breaching above shall further strengthen the trend. BankNifty has almost reached the 56000 zone with bias improving and can expect for further rise once a decisive breach above the 56000 zone is confirmed. The market breadth was almost flat with the advance decline indicating a neutral ratio at close.

Market Forecast
Nifty daily range 25300-25600
Nifty, opened on a strong note with a gap up near the 25400 zone and amid some volatility post lunch session witnessed a last hour recovery to end on an optimistic note above the 25400 zone with further gains anticipated in the coming days. The index if crosses the 25500 level shall further strengthen the trend expecting for fresh upward move with conviction having targets of 25700 and 26300 levels in the coming days. The 50EMA level at 24900 zone shall be the important support from current level which needs to be sustained.
BankNifty has witnessed a slow and steady gains since the last two weeks cruising ahead and has moved past the important 100 period SMA at 55700 zone with bias improving and a decisive breach above the 56000 zone shall trigger for fresh upward move with conviction and clarity. The index would have the important support zone at the 50EMA level at 55180 which needs to be sustained to maintain the overall bias intact.
The support for the day is seen at 25300 levels, while the resistance is seen at 25600 levels. BankNifty would have the daily range of 55300-56400 levels.

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