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Below the Technical Morning Ideas 05th 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 witnessed resistance near the 81500 zone in the morning session and succumbed to profit booking as the day progressed and closed near the important support zone at the 80500 level. The index needs to sustain above the 79700 zone, failing which the bias would turn slightly weak, and thereafter, the significant 200-period MA at the 79280 zone would be the next major support positioned. 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 signalling 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 fizzled out the positive development witnessed in the last session and once again has been gripped inside the tight range of 60000 and 61000 levels, with the overall bias remaining positive as of now. As mentioned earlier, the index needs to sustain above the crucial support of the 59950 level to keep the overall bias intact and would need a decisive breach above the 61300 level to break through the tight range and expect a fresh upward move in the coming days. BankNifty would have the daily range of 53600-54800 levels.”

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