Nifty 50 Eyes Record High as Santa Rally Gains Momentum; Bank Nifty Breaks Resistance

• Nifty 50 rallied over 200 points, showing strong bullish momentum and potential for a 'Santa rally' towards a new record high.
• Technical indicators for Nifty 50 (higher high–higher low, RSI, MACD, moving averages) suggest increasing bullish momentum.
• Experts believe Nifty 50 could target 26,300-26,400 if it clears 26,200, with 26,000 acting as key support.
• Bank Nifty also rose, breaking above a resistance trendline, with next resistance at 59,550 and support at 58,700.
• India VIX remains low, indicating a comfortable zone for bulls despite a slight rise.

Why It Matters: Nifty 50 shows strong bullish momentum, eyeing a record high amid a potential Santa rally.