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Below the Quote on Market Movement 27 May 2025 by Mr. Akshay Chinchalkar, Head of Research, Axis Securities

The nifty ended lower yesterday in a rather volatile trading session. Technically speaking, 24462 remains a critical swing low. If it holds - and this is the preferred view - the market will target first resistance at 25116 and then 25390. On the other hand, should 24462 break, a "rising wedge" pattern will be activated, with a downside target set near the 23900 - 24000 area. We mentioned 24822 yesterday as important short-term support, and despite falling below this level, the index closed slightly above it. The message is that this level remains important tactically. Meanwhile, the global macro picture and market sentiment remain supportive, especially with President Trump extending the deadline for EU tariffs to the 9th of July.

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