The Index can long at CMP for the potential target of 25500 with stop loss 25200 of level - GEPL Capital Ltd
Market News:
* Emcure Pharmaceuticals received a boost as the USFDA issued a ‘No Observation’ report for its Gujarat facility.
* Hind Rectifiers Ltd. has appointed Manoj Nair as its new Chief Executive Officer.
* 5Paisa Q2 FY2026 Results: Revenue fell 23.4% to Rs 771.6 crore, while EBITDA declined 40.3% to Rs 229.5 crore, bringing margins down to 29.7%. Net profit dropped 57% to Rs 94.8 crore, reflecting a challenging quarter for the company.
Technical Summary:
The index opened on a muted note and traded within a narrow range of approximately 25,260–25,330, reflecting a phase of subdued intraday volatility. Despite the limited movement, the index managed to breach its three-day high, signaling emerging strength. It is currently trading firmly above its short-term moving averages — the 5-day and 12-day DEMA — which reinforces the underlying positive momentum. Technically, the index is now approaching the neckline of a sloping trendline (25450-25500). A decisive close above this level would confirm a trend reversal, shifting the sentiment from neutral to bullish and paving the way for further upside in the sessions ahead. On the sectoral front, PSU Banks and Realty stocks led the rally, showcasing relative strength, while Metal and IT sectors witnessed profit booking, contributing to a mixed market tone
Levels to watch:
The Nifty has its crucial resistance 25350 (Pivot Level) and 25500 (Key Resistance). While support on the downside is placed at 25150 (Pivot Level) and 25050 (Key Support).
What should short term traders expect?
The Index can long at CMP for the potential target of 25500 with stop loss 25200 of level.
Technical Data Points
NIFTY SPOT: 25279 (0.39%)
TRADING ZONE:
Resistance: 25350 (Pivot Level) and 25500 (Key Resistance)
Support: 25150 (Pivot Level) and 25050 (Key Support).
STRATEGY: BULLISH TILL ABOVE 25050 (Key Support).
BANK NIFTY SPOT: 56622 (0.77%)
TRADING ZONE:
Resistance: 57000 (Pivot Level) / 57300 (Key Resistance)
Support: 56300 (Pivot Level) / 55800 (Key Support)
STRATEGY: BULLISH TILL ABOVE 55800 (Key Support)
SEBI Registration number is INH000000081.
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