On the price structure, immediate support is placed around 56,550–56,500, coinciding with the 100-DMA, followed by stronger support near 55,700 and 54,700, where the 50-DMA is positioned. On the upside, the immediate resistance zone lies around 57,000–57,200, which aligns closely with the 200-DMA at 56,985. A sustained breakout above this barrier could trigger fresh momentum toward 58,000–58,500 and potentially higher levels. Looking ahead, the technical setup has improved significantly as the index has reclaimed key moving averages and generated bullish momentum signals. If global risk sentiment remains supportive and domestic banking fundamentals continue to hold firm, the index appears well positioned for further recovery. However, traders should monitor the 200-DMA closely, as failure to sustain above this zone could result in a temporary consolidation before the next directional move.
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