Domestic stock markets experienced a downturn on Friday, with the Nifty50 dropping 150.50 points (0.62%) to close at 24,176.15 and the BSE Sensex falling 516.33 points (0.66%) to 77,328.19. This decline is attributed to rising geopolitical tensions between the US and Iran, a weakening rupee, and widespread selling in financial shares. Analyst Sudeep Shah from SBI Securities notes that the Nifty has been trading within a narrow range, indicating indecision among investors, while the broader market, particularly midcap and smallcap stocks, continues to show strength. The Nifty Midcap 100 reached a new all-time high, suggesting potential consolidation before further upward movement. The Nifty's technical indicators, including a Bollinger Band squeeze, suggest a significant move may be imminent, with immediate resistance at 24,450–24,500 and support at 23,850–23,800. Additionally, the India VIX, which measures market volatility, has decreased to 16.84, indicating a possible stabilization in market swings. However, both HDFC Bank and ICICI Bank are facing challenges, with key resistance levels identified at 800–810 for HDFC Bank and 1300–1310 for ICICI Bank, limiting their upside potential.