In yesterday's trading, Nifty's upward momentum stalled due to a lack of sustained buying, substantial profit booking, and excessively overbought technical conditions. Pessimism was fueled by concerns over rising Covid-19 cases, particularly the JN.1 sub-variant in India. Today's outlook suggests a negative bias, with Nifty's crucial support at 21000. Technical analysis indicates a capped upside around 21400-21411, and caution is advised below the all-time high at 21593. Options data suggests a likely trading range of 21000-22000. WTI crude hit a two-week high, driven by geopolitical tensions in the Red Sea. Perma-bulls remain optimistic, anticipating US PCE inflation updates on Friday. Recommended trades: Buy Nifty (21150) in the range of 20900-20950, with targets at 21401/21593, and Buy Bank Nifty (47445) in the range of 46500-46750, targeting 47901/48219, with aggressive targets at 49101-49500, setting stops accordingly.