‘Healthy pause after rally’: Anil Singhvi highlights crucial Nifty50, Nifty Bank levels traders must track

Nifty, Nifty Bank Support and Resistance Levels: After three straight sessions of strong gains, the market witnessed some profit booking on Friday afternoon. Zee Business Managing Editor Anil Singhvi said this correction is natural and healthy for the market after such a steep rise.

Rally still intact despite profit booking

According to Singhvi, the market’s trend remains positive until major support levels are broken. “Profit-taking after a one-way rally of three days is natural. As long as Nifty and Bank Nifty do not close below key levels, the uptrend remains intact,” he said.

Add Zee Business as a Preferred Source

Key levels for traders to track

For Nifty, Singhvi highlighted 25625 as the level to watch on the upside, a close above it could extend the rally further. Similarly, Bank Nifty needs to close above 57525 to confirm continued momentum.

On the downside, traders should watch 25375 on Nifty and 57000 on Bank Nifty. A close below these levels could weaken the bullish sentiment. Singhvi said Nifty has strong intraday support in the 25500–25575 zone, while Bank Nifty has support between 57000–57225.

If Nifty closes above 25670 and Bank Nifty crosses 57525, Singhvi expects a sharp rally ahead with Nifty’s next targets at 25900–26000, and Bank Nifty moving into the “Blue Sky zone” above 57650.

Mid and smallcap profit-taking not a concern

Singhvi noted that while the frontline indices remain strong, the broader market saw profit booking. He attributed this to FOMO-driven (fear of missing out) buying in previous sessions, which often leads to short-term corrections.

He added, “Such intraday corrections are actually good for the market’s health. The slower the market moves up, the stronger and more sustainable the rally becomes.”

Overall, Singhvi maintained a positive medium-term view, saying the uptrend remains firm unless key support levels are breached.