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Nifty

Nifty continues to face resistance near the 25000 mark, constrained by unwinding pressure around the 5-day EMA zone (~24900). While there's no sign of a major reversal, the index appears poised for range-bound consolidation in the near term. The broader uptrend remains intact as long as it holds above the 24500 support base. Options data reinforces this view, with significant writing observed in the 24700–24500 range — underscoring it as a key support zone. On the upside, resistance is expected to persist near 25000 for the remainder of the week. From a technical standpoint, the daily RSI continues to oscillate within the 50–60 range, while an elevated ADX hints at an impending directional move. On the weekly chart, a bullish 'Rising Three' candlestick pattern has emerged; however, a decisive close above 25180 is required to confirm its breakout potential. Geopolitical tensions in the Middle East remain an overhang, although recent remarks by U.S. President Trump suggesting a possible ceasefire between Israel and Iran have helped calm global sentiment. Meanwhile, Brent crude holding above $75/bbl — a four-month high — may temper upside volatility. Until clarity emerges, the index is likely to trade sideways with intermittent pullbacks. In the interim, stock-specific action is expected to dominate as the market consolidates.

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