TL;DR — Monday May 11 Quick View
- Nifty close (Thu May 8): 24,326.65 | Bank Nifty: 56,047.40
- Nifty resistance: 24,400–24,600 | Support: 24,000 (critical)
- Bank Nifty resistance: 56,334–57,000 | Support: 55,600
- Key trigger: Brent crude $101.94 — US-Iran deal outcome over weekend
- View: Cautious-positive. Range 24,000–24,600. Wait for clear breakout.
Written Friday May 8, 2026 — based on Thursday May 8 closing data.
Thursday May 8 Closing — Real Data
- Nifty 50: 24,326.65 — down 4.30 points (-0.02%)
- Bank Nifty: 56,047.40 — up 66.35 points (+0.12%)
- Sensex: 77,844.52 — down 114 points (-0.15%)
- India VIX: Below 17 — near one-month low
- Nifty Midcap 100: Hit all-time high 62,094.40 on May 7
Nifty 50 — Monday Outlook
Our view: Cautious-positive. Range: 24,000–24,600.
- Resistance: 24,400–24,430 → 24,500–24,600 (major) → 24,601 (swing high)
- Support: 24,000 (critical — 21-DMA + 50-DMA confluence) → 23,800 → 23,600
- RSI: ~60 — positive but not overbought. MACD in buy territory.
Bank Nifty — Monday Outlook
- Close: 56,047.40 | High: 56,334.15
- Resistance: 56,334 → 56,800–57,000
- Support: 55,600 → 55,000 → 54,400
Global Triggers to Watch on Monday
Brent Crude (~$101.94/barrel): The single biggest variable. Iran is reviewing a US peace proposal. If a deal is confirmed over the weekend, Nifty could gap up 200–300 points Monday and test 24,600. If talks break down, expect a test of 24,000 support.
- FII activity: net sellers Rs 5,834.90 crore on May 7 — watch for any reversal
- HDFC Bank Q4 results — critical for Bank Nifty direction
- SBI Q4 — NIM and asset quality
- India-Pakistan border situation — tail risk, watch for any escalation
These are personal views only. Markets can move in any direction. Not trading advice.
Not investment advice. Read our Disclaimer.
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This article is for informational and educational purposes only. It is not financial advice. All analysis and predictions are personal opinion and may be wrong or work in the opposite direction. DalalReport is not SEBI registered. Please do your own research and consult a SEBI-registered advisor before investing. We accept no liability for any financial loss arising from reliance on this content.
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