What Are Charts Signalling For Nifty, Bank Nifty And Midcap Indices? SEBI Analyst Sees Bullish Potential If Key Supports Hold

Indian markets trade in a tight range with investors watching key levels that could shape the next big move. Both benchmark and broader indices are testing critical zones, and traders are waiting to see if momentum will pick up or start to fade in the days ahead.

SEBI-registered analyst Rohit Mehta shared his views on the Nifty 50, Bank Nifty, Nifty Midcap 100, and Nifty Smallcap 100. He highlighted key support and resistance levels to monitor, along with chart patterns that are emerging.

Nifty 50

Mehta said the Nifty 50 has resistance near 26,270 and support at 24,800, which is “holding well”. 

He added that the index has formed a cup-and-handle pattern on the charts. The Nifty 50 will continue to have a positive bias as long as it remains above the 24,800 level. Above 26,270, we could see a fresh leg up, Mehta said.

Bank Nifty

On Bank Nifty, Mehta highlighted the support zone between 54,000 and 54,500 as a strong base, with the index currently at 55,865. 

He said the near-term trend is consolidation above support, and holding above 54,000 keepsthe  chances of a bounce toward 57,000 or higher. 

He also cautioned that a breakdown below 54,000 may invite further weakness.

Midcap And Smallcap Indices

For Nifty Midcap 100, Mehta said support lies at 55,500–56,000, which is holding strong, with resistance at its all-time high of 60,925. 

He observed a cup-shaped base formation and maintained that the index carries a positive bias above support, with a breakout possible if the all-time high is crossed.

On Nifty Smallcap 100, he identified support between 17,200 and 17,500, and resistance at the all-time high near 19,716. 

He said the index has formed a cup-shaped base, retains a bullish bias above support, and could see a breakout if it crosses the all-time high.

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