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Nifty

Nifty continues to face resistance near the 25000 mark, with narrow-range candlesticks forming around this level, constrained by unwinding pressure near the 5-day EMA zone (~24,900). Despite this, there is no clear sign of a major reversal. The index appears set for range-bound consolidation in the near term. The broader uptrend remains intact as long as Nifty holds above the 24500-support base. Options data supports this view, with significant writing seen in the 24700–24500 zone — reinforcing it as a crucial support area. On the upside, resistance near 25000 is likely to persist through the rest of the week. Technically, the daily RSI continues to oscillate within the 50–60 band, while a rising ADX indicates an impending directional move. On the weekly chart, a bullish 'Rising Three' candlestick pattern has formed. However, a decisive close above 25180 is needed to confirm breakout potential. Geopolitical tensions in the Middle East remain an overhang. Brent crude sustaining above $75/bbl — a four-month high — could limit upside momentum. A break below this level may signal easing tensions. Until greater clarity emerges, the index is expected to trade sideways with intermittent pullbacks. In the interim, stock-specific action is likely to dominate as the market consolidates

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