Immediate support is placed at 57,450, aligned with the 200-SMA, followed by 57,250 and the stronger 56,400–56,000 zone near the 100-SMA. On the upside, 57,620–57,800, encompassing the 21-SMA, 50-SMA, and recent supply, remains the first hurdle; a sustained breakout could open the path toward 58,000–58,300. Over the coming sessions, softer crude prices and renewed institutional buying may offer support, but geopolitical uncertainty, rupee volatility, and caution surrounding global rate signals could cap aggressive risk-taking. The near-term bias remains range bound. A decisive close above 57,800 would improve momentum, whereas a breach of 57,250 could trigger a deeper correction toward 56,800 and 56,400.
About The Author
