Nifty closed above 25,300 resistance; upside likely toward 25,500 by Religare Broking Ltd
Market Outlook
The Nifty 50 closed at 25,323, marking a positive session and successfully surpassing its immediate resistance at the 25,300 level. On the derivatives front, fresh Put OI build-up was observed at the 25,300 and 25,200 strikes, indicating that sustaining above these levels may open the door for an upside move toward 25,500, where significant Call OI is concentrated. On the daily chart, a trendline resistance is placed near 25,450, and a decisive breakout above this key level would be essential to extend the bullish momentum towards 25,600 and 25,800 in the near term.
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