The Nifty and Nifty Bank index witnessed a strong recovery last week. Nifty continues to retain its range and has moved up within it. We retain our bullish bias to break this range on the upside eventually and the Nifty to rise.

The US Fed meeting outcome last week largely turned out to be a non-event for the market. The Fed kept their policy rates unchanged and has still kept the doors open for another 50-basis points rate cut for this year.

We continue to retain our bullish bias.

Nifty can rise to 26,000–26,100 on a break above 25,300.

Nifty Bank index can rise to 57,300 first and then to 58,300 in the short term.

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Published on June 21, 2025