The Index opened on a flat note and touched an intraday high of 25,384 during the initial trading hour - GEPL Capital
Market News:
• Premier Explosives reported a 91.8% YoY increase in consolidated revenue to Rs 145 crore, while net profit declined 32.6% to Rs 12 crore in Q2.
• Page Industries reported an 11.5% YoY increase in revenue to Rs 1,439.6 crore, while EBITDA and net profit rose 7.4% to Rs 300.2 crore and 3.8% to Rs 202.5 crore, respectively, in Q2 FY27.
• Alkem Laboratories reported a 13.8% YoY increase in consolidated revenue to Rs 4,552 crore, while net profit declined 11.8% to Rs 675 crore in Q2 FY27.
Technical Summary:
The index opened on a flat note and touched an intraday high of 25,384 during the initial trading hour. Thereafter, it witnessed range-bound movement and gradually slipped towards the 25,200 mark before recovering marginally to close around 25,300. On the daily chart, the index has consistently formed Spinning Top candlestick patterns over the last couple of sessions, indicating a temporary pause in momentum following the sharp bullish rally witnessed in recent days. Among sectors, REALTY and MEDIA outperformed, while AUTO and FMCG emerged as the key underperformers. Going forward, 25,550 remains the immediate resistance, while 25,000 is expected to act as a crucial support zone. As long as the index sustains above 24,800, the broader short- to medium-term outlook remains positive, with intermediate declines offering potential buying opportunities. A strict stop-loss of 25,000 is recommended.
Levels to watch:
The Nifty has its crucial resistance 25550 (Pivot Level) and 25800 (Key Resistance). While support on the downside is placed at 25000 (Pivot Level) and 24800 (Key Support).
What should short term traders expect?
The Index can be Long till it sustains above 25000 for the potential target of 25800 the stop loss of 24800 Level.
Technical Data Points
NIFTY SPOT: 25299.35 (+0.18%)
TRADING ZONE:
Resistance: 25550 (Pivot Level) and 25800 (Key Resistance)
Support: 25000 (Pivot Level) and 24800 (Key Support).
STRATEGY: BULLISH till above 24800 (Key Support)
BANK NIFTY SPOT: 61518.50 (+1.19%)
TRADING ZONE:
Resistance: 61700 (Pivot Level) and 62200 (Key Resistance)
Support: 61000 (Pivot Level) and 60500 (Key Support).
STRATEGY: BULLISH till above 60500 (Key Support)
SEBI Registration number is INH000000081.
Please refer disclaimer at https://geplcapital.com/term-disclaimerg
