Technically, immediate support is seen in the 55,750–55,700 zone, aligned with recent swing lows, followed by a stronger base near 54,400 (21-day SMA). On the upside, resistance lies at 56,400–56,800, coinciding with the 50-day SMA, with a more significant hurdle at 57,200–57,300 near the 200-day SMA. A decisive move above this zone could trigger short covering and push the index toward 58,100. In the near term, the index is likely to consolidate within a broad range, with a mild upward bias if support levels hold. Macro stability and banking sector flows will be key to determining whether this recovery attempt evolves into a sustained uptrend.
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