However, profit booking emerged in the latter half of the session, threatening to wipe out the day’s gains. Buyers, however, returned near the day’s lows, triggering a swift recovery that helped the benchmark close on a firm note at 24,085, up 0.40%.
With Tuesday’s move, the Nifty has rallied over 1,000 points from its recent swing low of 23,072 to an intraday high of 24,108.
Among index heavyweights, Trent, BEL and Hindalco were the top gainers, while Tata Motors, Cipla and Bajaj Finance ended among the major losers.
Sectoral trends remained mixed. Consumer Durables, PSU Banks and Metal stocks led the gains, while Auto, Realty and Healthcare indices ended marginally lower.
The broader markets also maintained their positive momentum, advancing for a fourth straight session in line with the benchmark indices.
Market sentiment has improved amid easing geopolitical tensions in West Asia and growing expectations of a possible agreement to de-escalate the conflict. The sharp correction in crude oil prices has further boosted risk appetite by easing concerns around inflation and India’s external balances.
Investors will now focus on the US Federal Reserve’s policy decision. While the central bank is widely expected to keep interest rates unchanged, market participants will closely track its commentary for signals on the future rate path and any change in policy stance, said Siddhartha Khemka of Motilal Oswal.
According to Nandish Shah of HDFC Securities, the Nifty is approaching a critical resistance zone around its 100-day DEMA at 24,153, a level that repeatedly capped pullback rallies during April and May 2026.
A decisive close above this level could confirm a bullish trend reversal on the positional charts and mark the first meaningful breakout since the escalation of the West Asia conflict, Shah said.
If the index sustains above 24,153, the next upside target is seen near the 200-day DEMA at 24,465. On the downside, 23,800 is expected to provide immediate support and cushion any near-term profit booking.
Hitesh Rathi of Angel One said immediate support is placed in the 24,010-23,970 zone, followed by the stronger bullish gap support area of 23,820-23,645.
On the upside, the 24,130-24,150 zone remains the immediate hurdle as it coincides with a bearish gap, while stronger resistance is placed near 24,250, he added.
Nagaraj Shetti of HDFC Securities believes a decisive breakout above 24,100 could pave the way for a rally towards 24,500, where the 200-day EMA is positioned. Immediate support is seen at 23,900.
Meanwhile, Bank Nifty mirrored the benchmark’s trajectory, climbing to an intraday high of 57,646 before witnessing profit booking that trimmed gains. The banking index eventually settled at 57,585, up 0.50%.
According to Sudeep Shah of SBI Securities, immediate resistance for Bank Nifty is placed in the 57,900-58,000 zone. A sustained move above this range could trigger a further pullback towards 58,400, followed by 58,800. On the downside, support is placed at 57,100-57,000.
