The potential for a de-escalation between the United States and Iran is emerging as a significant factor influencing global markets, including India's Nifty 50 and Bank Nifty indices. Reports of diplomatic efforts to stabilize tensions around the Strait of Hormuz have reduced geopolitical risks and cooled crude oil prices. As of May 5, the Nifty 50 closed at 24,033, down 0.36%, while the Bank Nifty fell 0.60% to 54,547. Analysts suggest that the Nifty 50 is trading within a narrow range and may attempt a rebound if it breaks above key resistance levels of 24,230 and 24,335. Meanwhile, the Bank Nifty appears to have completed a corrective phase, with key support at 54,150 and resistance at 55,020. Investors are advised to consider selective buying opportunities as market breadth shows signs of underlying strength, despite recent volatility.