The Index can BUY at CMP for the potential target of 25800 and 26000 with stop loss 25630 of level -GEPL Capital Ltd
Market News:
* Acutaas Chemicals reported Q2 FY2026, with revenue rising 24% YoY to Rs.306 crore from Rs.247 crore. EBITDA surged 94.9% to Rs.95.3 crore, while margins expanded significantly to 31.1% from 19.8%.
* Ujjivan Small Finance Bank reported Q2FY26, with net profit declining 47.8% YoY to Rs.122 crore from Rs.233 crore. Net interest income dipped 2% to Rs.922 crore, while asset quality improved marginally, with gross NPA at 2.45% versus 2.52% QoQ.
* JSW Steel posted Q2FY26, with consolidated revenue rising 4.6% QoQ to Rs.45,152 crore, above estimates of Rs.44,170 crore. However, EBITDA declined 6% to Rs.7,115 crore from Rs.7,576 crore, though it remained slightly ahead of expectations of Rs.6,937 crore.
Technical Summary:
The index extended its previous session’s winning streak and successfully breached the key 25,750 resistance level during the first half of the intraday session, marking a new day high at 25,781. However, profit booking emerged near the classic pivot R2 level, leading the index to halt around the prior day’s high. On the daily chart, the index had earlier registered a breakout above the neckline of a Cup and Handle pattern, and today’s session witnessed bullish follow- through, indicating that positive sentiment remains intact. On the sectoral front, FMCG and Consumption led the gains, while Media and IT sectors were the major laggards of the day.
Levels to watch:
The Nifty has its crucial resistance 25800 (Pivot Level) and 26000 (Key Resistance). While support on the downside is placed at 25500 (Pivot Level) and 25400 (Key Support).
What should short term traders expect?
The Index can BUY at CMP for the potential target of 25800 and 26000 with stop loss 25630 of level.
Technical Data Points
NIFTY SPOT: 25696 (0.44%)
TRADING ZONE:
Resistance: 25800 (Pivot Level) and 26000 (Key Resistance).
Support: 25500 (Pivot Level) and 25400 (Key Support).
STRATEGY: BULLISH TILL ABOVE 25400 (Key Support).
BANK NIFTY SPOT: 57689 (0.46%)
TRADING ZONE:
Resistance: 58000 (Pivot Level) / 58500 (Key Resistance)
Support: 57300 (Pivot Level) / 57000 (Key Support)
STRATEGY: BULLISH TILL ABOVE 57000 (Key Support)
SEBI Registration number is INH000000081.
Please refer disclaimer at https://geplcapital.com/term-disclaimer
More News
Quote on Market 11th June 2025 by Vinod Nair, Head of Research, Geojit Investments Ltd
