The Nifty technical outlook suggests continued bullishness in both Nifty and Bank Nifty, but traders should stay cautious around key support levels to manage potential downside risk.

Market edges higher; selling pressure likely to rise, positive global cues; crude oil falls, metals surge

The Sensex hit a fresh record high of 85,930.43 before closing 0.78 percent higher at 85,836.12. The Nifty reached a fresh peak of 26,250.90 but closed at 26,216.05, up 0.81 percent. 

The Sensex breached the 85,000 mark, while the Nifty crossed 26,000; midcap and smallcap stocks, however, faced a sharp sell-off.

However, traders should watch key support levels for any signs of reversal

Metal stocks continued their upward trend, benefiting from China's stimulus announcement.

On Wednesday, the market breadth was negative, with 1,186 stocks advancing, 1,453 declining, and 84 remaining unchanged.

Indian markets face selling pressure amid weak global cues; metal stocks surge; crude oil price tops $75; gold price hits record high.

The Sensex ended the day at 84,914.04, down 15 points, while the Nifty 50 settled at 25,940.40, up 1 point. The BSE midcap index climbed 0.21 percent. However, the smallcap index dropped 0.04 percent.

The Sensex surpassed the 85,000 mark for the first time