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Market News:

• HEC Infra Projects Ltd won a Rs 2.5 Cr order for electrical, mechanical, and instrumentation work at two water distribution stations in Ahmedabad’s West Zone.

• EMS Ltd won a Rs 98.79 Cr order for survey, soil investigation, design, and execution of Ayodhya Nagar Nigam Sewerage Scheme Package-2.

• ACME Solar signed a battery storage deal with NHPC for 275?MW/550?MWh.

Technical Summary:

The index opened on a weak note and slipped below the 25,000 mark, breaking key support and continuing to trade below its 20-day EMA. It remained rangebound in the second half of the session and closed below 25,000, reflecting a cautious near-term sentiment. On the sectoral front, media and metal outperformed, while defence and private banks were the notable underperformers.

Levels to watch:

The Nifty has its crucial resistance 25150 (Pivot Level) and 25250 (Key Resistance). While support on the downside is placed at 24850 (Pivot Level) and 24750 (Key Support).

What should short term traders expect?

The Index can short if it sustains below 25000 for the potential target of 24850 with stop loss of 25070 level

Technical Data Points

NIFTY SPOT: 24967 (-0.57%)

TRADING ZONE:

Resistance: 25150 (Pivot Level) and 25250 (Key Resistance).

Support: 24850 (Pivot Level) and 24750 (Key Support).

STRATEGY: Bearish Till Below 25150 (Pivot Level)

BANK NIFTY SPOT: 56253 (-1.01%)

TRADING ZONE:

Resistance: 56800 (Pivot Level) / 57500 (Key Resistance)

Support: 56000 (Pivot Level) / 55700 (Key Support).

STRATEGY: Bullish till above 55700 (Key Support).

SEBI Registration number is INH000000081.

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