Nifty 25,239; support 25,200, resistance 25,250-25,500, bullish bias - Religare Broking Ltd
Market Outlook
The Nifty 50 closed at 25,239, posting significant gains and finishing just below its immediate resistance at 25,250. On the derivatives front, a notable OI build-up at the 25,200 Put options signals an immediate support. At the same time, on the upside, the index may encounter resistance in the 25,400–25,500 zone, where substantial Call OI has concentrated. On the daily chart, the formation of a strong Marubozu candle reflects sustained buying interest and indicates a sideways-to-bullish bias for the upcoming weekly expiry.
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