The markets saw a rebound after a significant drop, with the Dow Jones, S&P 500, and Nasdaq Composite gaining ground. Despite a gap-down start, Nifty rallied as bulls regrouped, showing resilience against morning selling pressure. Technical analysis points to Nifty's crucial resistance at 22000 and support at 21500 levels. Bank Nifty's positive momentum, fueled by improving asset quality and fiscal prudence, makes PSU banks like SBI, Bank of Baroda, and PNB potential outperformers. The Nifty options data suggests a trading range of 21000-22500, with bullish sentiment prevailing. Recommended trades include buying Nifty between 21700-21750 and Bank Nifty at CMP, with aggressive targets set for both indices. Additionally, MARUTI emerges as a standout stock with promising upward potential, backed by its higher high/low pattern.
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