IGI Logo

Market News:

* Emcure Pharmaceuticals has announced a strategic partnership with global healthcare leader Novo Nordisk to launch a weight-loss injection in India.

* Bharat Electronics Ltd has bagged additional orders worth Rs.792 crore for projects spanning defence network upgrades, radio communication systems, radars, and other.

* Sugar Companies - The government has approved the export of 1.5 million tonnes of sugar for the 2025 –26 season and has eliminated the export duty on molasses

Technical Summary:

The index opened on a positive note and witnessed upward momentum during the first half of the session, making a day high of 25,653 near the 12-DEMA level. However, it later slipped into a gradual decline, paring most of its early gains. On the daily scale, the index formed a bullish candlestick with a long upper wick, indicating a neutral sentiment. On the sectoral front, IT and Defence were the top outperformers, while Media and Realty sectors lagged behind during the session.

Levels to watch:

The Nifty has its crucial resistance 25650 (Multiple Touches) and 25800 (Key Resistance). While support on the downside is placed at 25400 (Pivot Level) and 25300 (Key Support).

What should short term traders expect?

The Index can long above 25650 for the potential target of 25800 with stop loss 25580 of level.

Technical Data Points

NIFTY SPOT: 25575 (+0.33%)

TRADING ZONE:

Resistance: 25650 (Multiple Touches) and 25800 (Key Resistance)

Support: 25400 (Pivot Level) and 25300 (Key Support).

STRATEGY: Bullish Till Above 25300 (Key Support).

BANK NIFTY SPOT: 57891 (+0.02%)

TRADING ZONE

Resistance: 58250 (Pivot Level) / 58600 (Key Resistance)

Support: 57500 (Pivot Level) / 57000 (Key Support)

STRATEGY: BULLISH TILL ABOVE 57000 (Key Support)

SEBI Registration number is INH000000081.

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