Benchmark indices closed on a positive note on Friday, supported by buying interest in private banking stocks amid an early recovery in the Indian rupee. Going ahead, analysts say a failure to move above the breakdown area of 23,800-23,900, will keep the bias corrective and can lead to testing of the support area of 23,200-23,000. While a move above the breakdown area will signal pause in the downtrend and open upside towards 24,200 and 24,600 levels being the high of April 2026.
STATE OF THE MARKETS
Tech View: A sustained bullish outlook will be confirmed only if the index closes above the 55,000 mark. Till then, the current upmove should be viewed as a recovery. Support is placed at 53,500, while resistance stands at 54,200 and 54,600.
Stocks in F&O ban today
SAIL
Kaynes
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors net sold shares worth Rs 4,440 crore on Friday. DIIs, meanwhile, were net buyers at Rs 6,003 crore.
Rupee
The rupee strengthened for a second straight session on Friday, rising 63 paise to close at 95.73 on the back of easing crude prices, positive equity markets, and softer US yields coupled with the intervention from central bank.
