Nifty Extends Rally, Bank Nifty Clears Hurdles; 25,450 Crucial for Further Gains

• Nifty 50 extended its rally for the second consecutive session, closing 0.66% higher on January 28, with above-average volumes.
• Momentum indicators show increasing optimism, with Nifty above its 200-day EMA, and India VIX cooling off by 6.42% to 13.53.
• A decisive close above the 25,450–25,500 zone is needed for Nifty to target 25,600–25,750; immediate support is at 25,160 (200 DEMA).
• Bank Nifty gained 0.66% to 59,599, clearing all key moving averages, with strong buying interest at lower levels.
• For Bank Nifty, 59,900–60,000 is immediate resistance; a break could lead to 60,300–60,600, while 59,100–59,000 acts as strong support.

Why It Matters: Nifty and Bank Nifty show bullish momentum, but Nifty needs to cross 25,450 for sustained upward movement.