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Market News:

* Ather Energy has unveiled ambitious plans to expand its retail footprint, targeting 700 Experience Centres across India by the end of FY26.

* Reliance Infrastructure’s subsidiary, Reliance Aero, has signed an agreement with Dassault Aviation to manufacture Falcon 2000 business jets in India.

* Optiemus Infracom has partnered with OnePlus to manufacture premium IoT devices in India

Technical Summary:

The index opened on a positive note but failed to breach the 24,950 resistance level and drifted lower throughout the session. In the second half, it remained rangebound between 24,760–24,800. On the daily chart, a long upper wick candlestick has formed, indicating near-term caution. On the sectoral front, Consumer Durables and Auto outperformed, while Media and IT were the notable underperformers.

Levels to watch:

The Nifty has its crucial resistance 24950 (Pivot Level) and 25100 (Key Resistance). While support on the downside is placed at 24700 (Pivot Level) and 24600 (Key Support).

What should short term traders expect?

The Index can be long if it sustains above 24850 for the potential target of 24950 & 25100 with stop loss of 24780 level.

Technical Data Points

NIFTY SPOT: 24798 (-0.22%)

TRADING ZONE:

Resistance: 24950 (Pivot Level) and 25100 (Key Resistance)

Support: 24700 (Pivot Level) and 24600 (Key Support).

STRATEGY: Bullish till above 24600 (Key Support).

BANK NIFTY SPOT: 55803 (+0.16%)

TRADING ZONE:

Resistance: 56300 (Multiple Touches) / 56600 (Key Resistance)

Support: 55500 (Pivot Level) / 55000 (Key Support).

STRATEGY: Bullish till above 55000 (Key Support)

SEBI Registration number is INH000000081.

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