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Below the Quote on Post-market comment by Mandar Bhojane, Choice Broking 

Indian benchmark indices ended higher for the fifth consecutive session on April 25, led by buying across sectors, barring realty. At close, the Sensex was up 486.50 points or 0.66 percent at 74,339.44, and the Nifty was up 167.90 points or 0.75 percent at 22,570.30.

On the daily chart, Nifty formed a bullish engulfing candle with huge volume, indicating strong momentum in Nifty due to NIFTY PSU BANKS. It also broke resistance at the 22,600 level and settled near the 22,570.35 level, indicating a strong closing. If the index sustains above the 22,600 level, the next resistance is near the all-time high at the 22,800 level and 23,000 level in the coming days. On the flip side, the 22,300 level acts as immediate support, with the RSI at 60 showing bullish momentum.

Analysis of Nifty Put options indicates a concentration of Open Interest (OI) at the 22,500 level, suggesting potential support. On the Call side, significant OI concentrations are observed at the 22,900 and 23,000 levels, nearing all-time highs.

Traders and investors are advised to consider buying opportunities during Nifty dips and to implement a suitable stop-loss strategy below the mentioned support levels.

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