Momentum Intact: Nifty Eyes 25,500, Market Signals Stay Positive

Benchmark indices continued their positive momentum, with Nifty closing 200 points higher, while Sensex was up 700 points.

Sector Performance

Among sectors:

• Media index outperformed, gaining 1.75%
• Defence index was the biggest loser, declining 2%

Technical View

Technically, after a gap-up open, the market maintained its positive momentum throughout the day. A bullish candle on the daily chart and an uptrend continuation formation on the intraday chart indicate further upside from current levels.

Key Support Zones:

• 25,000 / 82,000
• 25,100 / 82,300

As long as the market is trading above these levels, the bullish sentiment is likely to continue.

Immediate Resistance Zone:

• 25,320 / 83,000

Potential Upside Levels (on successful breakout):

• 25,450 – 25,500 / 83,500 – 83,650

However, below 25,100 / 82,000, the uptrend may weaken.

Bank Nifty Range

• Would remain within a narrow trading range of 56,800 and 56,400 levels.

Strategy

• Buy if Nifty crosses 25,320 with a stop loss at 25,100
• Sell if Nifty breaks 25,100 with a stop loss at 25,200

Derivative Insights

Market Recap

• Nifty closed 0.80% higher, sustaining bullish momentum throughout the session.
• Nifty Midcap 100 underperformed with a 0.44% gain.

Overall, the combination of bullish price action, positive sectoral cues, and supportive derivatives data suggests that the current market momentum may continue, provided key support levels are held.