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Market News:

* Solar Industries Ltd.’s subsidiary has secured a Rs.1,400 crore export contract to supply defence products over the next four years.

* Rites Ltd. has signed an MoU with the Andhra Pradesh Economic Development Board to accelerate infrastructure development.

* Praveg has received a contract from the Tourism Corporation of Gujarat to develop a resort in Kutch.

Technical Summary:

The index opened on a weak footing, largely influenced by the sell-off across global markets indices, which dampened sentiment right from the start. Throughout the session, the index displayed heightened volatility as intraday rebounds consistently met with selling pressure. The 26,000 level once again acted as a strong overhead barrier, where the index showed clear signs of exhaustion. By the end of the session, persistent supply dragged the index below the prior day’s low, resulting in a red-bodied candlestick—reflecting a shift toward short-term caution. Sectorally, Consumer Durable and Private Bank stocks provided relative strength and outperformed despite the broader weakness, indicating selective buying interest. In contrast, the Realty and IT sectors came under notable pressure and ended as the top losers for the day, contributing to the overall subdued market tone.

Levels to watch:

The Nifty has its crucial resistance 26000 (Multiple Touches) and 26150 (Key Resistance). While support on the downside is placed at 25800 (Pivot Level) and 25700 (Key Support).

What should short term traders expect?

The Index can long above 25900 for the potential target of 26000 & 26050 with stop loss 25830 of level.

Technical Data Points

NIFTY SPOT: 25892 (-0.47%)

TRADING ZONE:

Resistance: 26000 (Multiple Touches) and 26150 (Key Resistance).

Support: 25800 (Pivot Level) and 25700 (Key Support).

STRATEGY: Bullish till above 25700 (Key Support).

BANK NIFTY SPOT: 58835 (-0.22%)

TRADING ZONE:

Resistance: 59250 Pivot Level) / 59500 (Key Resistance)

Support: 58500 (Pivot Level) / 58000 (Key Support)

STRATEGY: Bullish till above 58000 (Key Support)

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer