Technical View: Momentum May Drive Nifty Above 25k Post-RBI Event, Bank Nifty Records Biggest Weekly Gains Since September

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The Indian equity market continues to show signs of robust momentum as the Nifty index eyes the 25,000 mark following the recent Reserve Bank of India (RBI) policy event. Analysts suggest that the broader market's positive momentum could push the Nifty beyond this psychological level, provided the market sentiment remains strong in the coming weeks.



Post-RBI Policy Surge

The RBI's latest policy announcement has left investors optimistic, providing support to both the equity markets and broader economic outlook. The central bank's decision to hold interest rates steady, coupled with positive cues from global markets, has helped stabilize investor sentiment. This has translated into a surge in momentum, setting the stage for the Nifty to potentially breach the 25,000 mark for the first time.

"Following the RBI's decision, we are witnessing strong upward momentum in the Nifty, and it’s likely to test the 25k level in the near term if the buying pressure sustains," said a market analyst.

Bank Nifty's Strong Performance

The Bank Nifty has emerged as a star performer, recording its biggest weekly gains since September. The banking sector, buoyed by favorable policy outlooks, has seen strong buying interest, particularly in large-cap banks. With expectations of stable interest rates and improved credit growth, investors are positioning themselves favorably within the sector.

The Bank Nifty's sharp gains highlight the sector's growing strength in the face of evolving market conditions. "The banking index is well-positioned to continue its positive trajectory, driven by strong fundamentals and supportive monetary policies," added the analyst.

Outlook

Looking ahead, technical indicators suggest that the momentum in both the Nifty and Bank Nifty could continue in the near term, with the Nifty eyeing fresh all-time highs and the Bank Nifty likely to outperform broader indices. Investors will closely watch any developments in domestic economic data and corporate earnings that may influence the market's trajectory.

Overall, the technical view remains bullish as long as the indices hold key support levels, with the possibility of a strong rally post-RBI event.

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