The big picture that we explained last week is playing out very well. # Nifty has risen and closed very well above 23,000 last week. This has given some relief. It now strengthens the case for a rise back to 24,000 that we have been saying over the last couple of weeks.

Nifty can rise to 23,300-23,500 in the short term and 24,000 eventually. Support at 22,900-22,850 can limit the downside.

The NiftyBank index can rise to 56,600 and even 57,300. The 55,500-55,350 region is an important support.

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Published on October 17, 2026