Technical Morning Ideas 04th Sept 2025 by Vaishali Parekh Vice President - Technical Research, PL Capital Group - Prabhudas Lilladher Ltd
Below the Technical Morning Ideas 04th Sept 2025 by Vaishali Parekh Vice President - Technical Research, PL Capital Group - Prabhudas Lilladher Ltd
“NIFTY / SENSEX
Nifty indicated an optimistic positive move after the flat opening session to end above the 24700 zone with anticipation of positive cues from the GST rate outcome, which would decide the further course of the market in the coming days. The index would need a decisive move past the important 50EMA level at the 24800 zone, which can trigger a fresh further upward move along with the broader markets beginning to participate to support the benchmark indices. The 24500 zone shall continue to remain as the important support zone for the index. Sensex, after taking support near the 79800 zone, has improved the bias, indicating a double-bottom formation pattern on the daily chart to improve the bias, and currently has sustained a decent recovery to end on a positive note. The index would have the near-term hurdle at the 50EMA level of 81200, which, when breached above, shall aim for the targets of 82000 and 82500. The important 200 DMA zone at the 79300 level would continue to remain the crucial support area, which needs to be sustained as of now. The support for the day is seen at 24600 levels, while the resistance is seen at 24900 levels.
BANKNIFTY / BANKEX
Bank Nifty maintaining the important support zone near the 53500 zone has indicated a significant pullback to end above the 54000 zone, with the banking giant HDFC Bank indicating prominent positive cues signaling a buy from the oversold zone after a long wait to boost the index, anticipating further gains in the coming sessions. The index would need a decisive move past the 55000 zone to overall improve the bias, and thereafter, anticipate a fresh upward move in the coming days. Bankex continue to witness a gradual rise after sustaining the above the important near term support at 200DMA level of 59930 level since and expect for further move till the 61300 zone. The index would continue to have the important support positioned near the 200DMA level and on the upside, a decisive breach above the resistance zone of 61300 level is necessary to trigger for further fresh higher targets of 62000 and 62500 levels in the coming days. BankNifty would have the daily range of 53600-54800 levels.”
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