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Nifty

In yesterday’s session, Nifty witnessed a strong intraday breakout above the 25180 hurdle, extending gains towards 25300. However, it failed to sustain above the breakout mark on a closing basis. Despite this, the session reflected notable resilience, keeping the broader bias bullish. With sufficient consolidation within the 25200–24700 band, a decisive close above this zone could unlock the next leg of directional momentum. Technically, the index continues to trade above the 25000 mark, indicating improving trend strength. Daily RSI crossing above 50 and a flat ADX suggest a potential breakout is on the horizon. Options data reflects firm support at 25000 and 24800 puts, while upside could remain capped near 25500. The put-call ratio at extreme levels hints at a possible quick rebound to 25200 if dips emerge. A sustained move above 25180 may open the path towards the 25500–25630 zone. Globally, market sentiment remains buoyant with easing Israel-Iran tensions and Brent crude sliding 13% to below $67/barrel.

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