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.

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

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

On Monday, the Sensex and the Nifty ended at record closing levels.

The Nifty and Bank Nifty display strong bullish trends; traders should watch key support and resistance levels closely as the indices approach crucial milestones.

Within the first hour of trading, the Nifty surged to 25,925.80, while Sensex reached 84,881.73, both rewriting their respective records.