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Below the Quote on Closing Market Summary 29th September 2025 by Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Private Limited

On September 29, Indian equity markets closed on a negative note amid notable intraday volatility. At the close, the Sensex was down 61.52 points, or 0.08 percent, at 80,364.94, while the Nifty fell 19.80 points, or 0.08 percent, to 24,634.90. The BSE Midcap index gained 0.3 percent, while the Smallcap index declined marginally.

The Nifty 50 opened on a positive note but slipped below 24,650 during the session, closing in the red for the eighth consecutive day—reflecting sustained selling pressure. From a technical standpoint, a sustained move above 24,800 could pave the way for a rally toward 25,000. On the downside, immediate support is seen at 24,530 and 24,400, which may act as potential entry points for long trades. Among sectors, Oil & Gas, PSU Banks, Energy, and Realty gained around 1 percent each, while the Media index declined nearly 1 percent.

Bank Nifty displayed indecision, forming a Doji after a volatile session. A decisive break below the key support of 54,200 could trigger further downside toward 54,000 and 53,790 (200-day EMA). However, if these support levels hold, a reversal could offer fresh buying opportunities. On the upside, resistance is expected in the 54,800–55,000 zone, with a breakout above this range potentially driving a move toward 55,500.

Meanwhile, the India VIX, a key gauge of market volatility, fell 0.53 percent to 11.364, reflecting continued market uncertainty. In the derivatives segment, open interest (OI) data indicated the highest call writing at the 24,700 and 24,800 strike prices, while maximum put OI was seen at 24,600, suggesting strong resistance around 24,800. Overall sentiment remains cautiously optimistic, and a decisive close above this level will be essential to sustain bullish momentum in the near term.

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