The Nifty 50 index recently formed a bearish candlestick pattern with lower highs and lower lows. This movement suggests that the index is filling gaps left during its recent rally. According to technical analysis from bajaj broking, if the index falls below Friday’s low of 23,813, it could slide further toward the 23,600 mark. Consequently, the broad range for the upcoming week appears to be between 23,600 and 24,400.
Nifty Intraday Trading Levels
Traders should pay close attention to the options data provided by bajaj broking to understand market sentiment. There is heavy “call writing” between 23,900 and 24,200, which acts as a ceiling for the index. Meanwhile, the support at 23,800 looks somewhat weak due to limited “put writing.”
Crucial Levels for Nifty Traders:
- Upside Potential: A move above 24,200 could push the index toward 24,400 or 24,500.
- Downside Risk: Slipping below 23,900 might trigger a drop toward 23,700.
- Monthly Expiry: The 23,900 – 24,200 range remains the most critical zone for this month.
Bank Nifty Forecast and Key Support Zones
The banking index followed a similar path, closing below its 50-day and 200-day Exponential Moving Averages (EMA). This is a technical signal that the short-term trend has weakened. Analysts at bajaj broking expect the Bank Nifty to consolidate between 54,500 and 57,500 in the coming days. If the index breaks Friday’s low of 55,750, it may test deeper support levels at 55,200 and 54,500.
From a short-term view, the 54,500 – 54,000 zone is vital because it represents a 38.2% Fibonacci retracement level. Therefore, investors should monitor this area to see if the recent pullback finds a floor. In the options market, aggressive call writing at 56,000 indicates that the bulls face a tough fight to move higher.
Global Headlines for April 27, 2026
While traders monitor their portfolios with bajaj broking, several other stories are making waves today.
- Education: Families are still reacting to the UK Board Result 2026 and UP Board results that were recently declared.
- Tech: Mobile users are downloading the nothing phone 3 os 4.1 update to try out new AI features.
- Spirituality: Many are reading the Mohini Ekadashi Vrat Katha as they observe the sacred fast today.
- Entertainment: The box office continues to be dominated by Ranveer Singh in Dhurandhar 2, while the kkr vs lsg match analysis is trending in the sports world.