Technically, immediate resistance is placed in 56,000–56,500, followed by a stronger hurdle near 57,500, which coincides with 50-DMA. On the downside, immediate support is seen at 53,800 (21-DMA), with a stronger base around 52,500–52,000. The recent sharp rally, supported by easing crude prices and improved global sentiment, has lifted the near-term outlook. Going forward, the index may consolidate above 53,800 and attempt a gradual move higher. A sustained breakout above 56,500 could trigger further upside, while failure to hold key support may result in renewed selling pressure.
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