Nifty Faces Key Resistance at 25,700–25,900 - GEPL Capital Ltd
Market News:
* Intellect Design Arena Ltd announced that Arab National Bank (ANB) has successfully deployed its eMACH.ai Digital Transaction Banking platform, enhancing the bank’s digital capabilities and accelerating its transformation journey.
* Mahindra Group has unveiled plans to set up a maintenance facility in India in collaboration with Embraer SA for the C-390 Millennium aircraft, contingent upon its selection under the Indian Air Force’s Medium Transport Aircraft (MTA) program.
* Puravankara Limited has launched Purva Silversky, a premium 6.99-acre residential project in Hebbagodi, Electronic City, off Hosur Road in Bengaluru, featuring 356 homes across three 32-storey towers.
Technical Summary
The Nifty index opened on a positive note but gradually drifted lower throughout the session, ultimately erasing the gains of the past three days. As a result, it formed a large bearish candlestick on the daily chart and closed below its 20- and 50-DEMA, signaling weakening short-term momentum. The decline was largely attributed to escalating tensions between the US and Iran, which dampened risk appetite and reflected cautious near-term sentiment in the market. On the sectoral front, Realty and Media stocks emerged as the major laggards, ending the session as the top losers.
Levels to watch:
The Nifty has its crucial resistance 25700 (Pivot Level) and 25900 (Key Resistance). While support on the downside is placed at 25300 (Pivot Level) and 25200 (Key Support).
What should short term traders expect?
The Index can short below 25400 for the potential target of 25250 the stop loss of 25470 level.
Technical Data Points
NIFTY SPOT: 25413 (-1.57%)
TRADING ZONE:
Resistance: 25700 (Pivot Level) and 25900 (Key Resistance
Support: 25300 (Pivot Level) and 25200 (Key Support).
STRATEGY: Bearish Till Below 25700 (Pivot Level)
BANK NIFTY SPOT: 60653 (-1.46%)
TRADING ZONE:
Resistance: 61200 (Pivot Level) / 61800 (Key Resistance)
Support: 60000 (Pivot Level) / 59500 (Key Support)
STRATEGY: Bullish till above 59500 (Key Support)
SEBI Registration number is INH000000081.
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