Technical Morning Ideas 19th Sept 2025 by Vaishali Parekh Vice President - Technical Research, PL Capital Group - Prabhudas Lilladher Ltd
Below the Technical Morning Ideas 19th Sept 2025 by Vaishali Parekh Vice President - Technical Research, PL Capital Group - Prabhudas Lilladher Ltd
Forecast
NIFTY / SENSEX
Nifty opened on a strong note with a gap up near the 25400 zone and, amid some volatility post-lunch session, witnessed a last-hour recovery to end on an optimistic note above the 25400 zone with further gains anticipated in the coming days. The index, if it crosses the 25500 level, shall further strengthen the trend, expecting a fresh upward move with conviction, having targets of 25700 and 26300 levels in the coming days. The 50EMA level at the 24900 zone shall be the important support from the current level, which needs to be sustained. Sensex, maintaining the positive bias intact, has witnessed a gradual rise in the last 3 sessions, and closing above the hurdle of the 82920 (1.28% retracement) zone has improved the bias further, with overall sentiment maintained with a cautiously positive approach as of now. The index would be aiming for the near-term target of the 83750 zone, which, if decisively breached above, can achieve the next upside target of the 86000 level, with the currently important 50EMA at the 81400 level positioned as the crucial support zone. The support for the day is seen at 25300 levels, while the resistance is seen at 25600 levels.
BANKNIFTY / BANKEX
Bank Nifty has witnessed slow and steady gains since the last two weeks, cruising ahead and moving past the important 100-period SMA at the 55700 zone with bias improving, and a decisive breach above the 56000 zone shall trigger a fresh upward move with conviction and clarity. The index would have the important support zone at the 50EMA level at 55180, which needs to be sustained to keep the overall bias intact. Bankex, indicating strength, once again witnessed a pullback from the 62400 level and gained momentum to close near the 62650 zone, with most of the PSU banks also supporting the frontline banking stocks, expecting a further rise in the coming sessions. As mentioned earlier, the index would have the important near-term support of the 50EMA zone at the 61732 level, and on the upper side, a decisive breach above the 63000 zone shall trigger a fresh upward move in the coming days. BankNifty would have the daily range of 55300-56400 levels.
Above views are of the author and not of the website kindly read disclaimer
