Markets enter expiry session upbeat as Nifty tests crucial resistance

Indian equity markets are expected to open on a positive note as the Nifty heads into the weekly options expiry session with improving technical momentum. The index closed decisively above its 20 day moving average and at the day’s high, signaling short-term strength. Market participants are closely tracking the 26,200 level, which Nifty has failed to close above since December 5. Broader market breadth remains supportive, although subdued participation from large private banks has limited gains in the Bank Nifty, which is still trading below the 59,500 mark.