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Market News:

* L&T has secured a Rs.2,500–5,000 crore order from Torrent Energy for a 3,000 MW pumped storage project in Maharashtra.

* Oswal Pumps Ltd won a ~Rs.119.9 crore order to supply 3,263 solar agriculture pump sets across Karnataka under the PM-KUSUM Component-B scheme.

* Quadrant Future Tek won a ~Rs.288 crore order from CLW for 353 KAVACH onboard loco systems.

Technical Summary: The index opened on a muted note but witnessed heightened volatility, oscillating between anintraday high of 25,791 and a low of 25,603. Despite the swings, the index once again found strong support near the 100-DEMA around the 25,600 zone, marking the fourth consecutive session of support at this key level. On the sectoral front, Metal and PSU Bank indices outperformed, while Realty and IT sectors remained under pressure and ended as the top laggards for the day.

Levels to watch: The Nifty has its crucial resistance 25800 (Pivot Level) and 25900 (Key Resistance). While support on the downside is placed at 25600 (Multiple Touches) and 25500 (Key Support).

What should short term traders expect?

The Index can short below 25600 for the potential target of 25500 the stop loss of 25670 level.

Technical Data Points

NIFTY SPOT:25669 (-0.25%)

TRADING ZONE:

Resistance: 25800 (Pivot Level) and 25900 (Key Resistance).

Support: 25600 (Multiple Touches) and 25500 (Key Support).

STRATEGY: Bearish till below 25900 (Key Resistance).

BANK NIFTY SPOT: 59569 (-0.01%)

TRADING ZONE:

Resistance: 59800 (Pivot Level) / 60112 (Key Resistance)

Support: 59000 (Pivot Level) / 58700 (Key Support)

STRATEGY: Bullish till above 58700 (Pivot Level)

SEBI Registration number is INH000000081.

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