Indian equity markets ended Friday on a strong note, with benchmark indices closing sharply higher, led by FMCG stocks and a rebound in Reliance Industries. The S&P BSE Sensex surged 484.53 points to 83,952.19, while the NSE Nifty50 gained 124.55 points to settle at 25,709.85. Broader market indices also advanced, reflecting sustained buying amid volatility.
Market analysts highlighted upbeat domestic sentiment, supported by institutional participation and gains across financials, autos, and FMCG sectors. Technically, Nifty50 has breached its horizontal resistance near 25,700, hitting a 52-week high of 25,781.50. Analysts view the next resistance between 25,800–26,000, with a decisive breakout potentially pushing the index toward 26,300. Immediate support is seen around 25,600–25,450, aligned with the rising trendline and short-term moving averages.
Open interest data in Nifty options reinforces a bullish outlook. Put OI stands at 17.2 crore versus Call OI at 21.3 crore, indicating mild profit-booking at higher levels. Active Put writing at 25,600–25,500 forms a strong support base, while Call writing at 25,800–26,000 marks resistance. The Put-Call Ratio of 0.81 suggests balanced sentiment, hinting at brief consolidation before further upside.
Bank Nifty outperformed, hitting a new lifetime high of 57,830, above its previous peak of 57,650. Resistance lies at 58,000–58,300, with sustained gains above 58,300 possibly extending the rally toward 59,000. Support levels are at 57,500–57,250, with a dip below 56,500 likely leading to mild consolidation without affecting the broader bullish trend.
Large-cap stocks outperformed mid- and small-caps, a classic early-stage bull market signal. Analysts suggest a ‘buy on dips’ strategy, with meaningful support at 25,500 and resistance around 25,850–26,000. Overall, India’s equity markets show strong momentum ahead of the festive week, driven by robust inflows and improving domestic sentiment, though caution is advised near resistance zones as indices approach new highs.
