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2025-07-04 10:08:41 am | Source: Religare Broking Ltd
Nifty was volatile on weekly expiry, ended slightly lower amid consolidation - Religare Broking Ltd
Nifty was volatile on weekly expiry, ended slightly lower amid consolidation - Religare Broking Ltd

NIFTY

* Nifty traded volatile on the weekly expiry day and ended marginally lower, continuing the ongoing consolidation phase.

* After an initial uptick, the Nifty oscillated sharply in both directions while remaining within Wednesday’s trading range, ultimately closing at 25,405.30.

* However, the overall trend remains bullish and is expected to stay intact unless the index decisively breaks below the 25,200 mark.

* On the upside, the 25,650–25,750 zone is likely to act as an immediate hurdle.

* Participants should align their positions accordingly, with a strong focus on stock selection.

 

BANKNIFTY

* The banking index saw profit booking for the second consecutive session but remains within an upward channel.

* Except for IndusInd Bank and IDFC First Bank, all banking stocks in the index closed down, led by weakness in PNB and Kotak Mahindra Bank.

* The all-time high of 57,628.40 now acts as a strong resistance level, with a breakout potentially signaling new highs.

* On the flip side, the 56,390–56,100 zone will act as strong support provided by 50% and 61.8% retracement of recent up-move.

 

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