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Nifty, Bank Nifty: Can They Rebound After Heavy Selling? Key Levels to Watch
M
Moneycontrol•30-09-2026, 08:53
Nifty, Bank Nifty: Can They Rebound After Heavy Selling? Key Levels to Watch
- •Nifty may attempt a rebound towards 22,800 and 23,000 after severe selling pressure, with support at 22,550–22,500.
- •Bank Nifty could extend recovery towards 55,000–55,300, but the overall trend remains bearish with immediate support at 53,785.
- •Experts suggest avoiding aggressive short positions on Nifty as it approaches a crucial long-term support zone (22,500–22,000) and shows oversold conditions.
- •Bank Nifty remains under bearish pressure, with key resistance at 55,380 and support at 53,316; a breach below 54,000 could resume sell-off.
- •Strategies vary from buying Nifty October Futures around 22,700 to selling Nifty Futures below 22,620, and selling Bank Nifty Futures near 54,740 or buying around 54,200.
Key Questions Answered
Following severe selling pressure, the Nifty's immediate resistance is seen at 22,800, with a key hurdle at 23,000, while immediate support is marked at 22,550–22,500 and deeper technical support rests around 22,500–22,200.
On September 29, 2026, the Nifty 50 declined 64 points, or 0.28 percent, to close at 22,716, while the Bank Nifty fell 212 points, or 0.39 percent, to finish at 54,260 alongside a weak market breadth.
The major concern keeping global risk sentiment weak is the sharp rise in US bond yields, with the US 10-year Treasury yield climbing above 5.2 percent and increasing pressure on emerging markets despite easing crude oil prices.
