India Market Watch: SEBI RAs See Nifty In Pause Mode Unless It Breaks Above 25,200

Indian equity markets began the trading week on a positive note on Monday, with the Nifty 50 testing an intraday high of 25,080. However, this upward momentum met resistance in the 25,070–25,100 zone. 

SEBI-registered analyst Mayank Singh Chandel noted that Nifty failed to close above it, hinting at a pause or potential consolidation before the next breakout. 

On the daily chart, Nifty continues to display a bullish structure, forming a higher high–higher low pattern. Trading volumes were higher than the previous session, suggesting active participation from both sides. 

On the 5-minute intraday chart, the index traded in a narrow range-bound session with significant activity from Call and Put writers at the 25,000 strike. According to him, this reflects traders' indecision and a wait-and-watch approach. 

Chandel identified immediate resistance at 25,050–25,200. A sustained move above this range and the sloping trendline can trigger a fresh uptrend toward 25,500 and beyond. 

He sees immediate support at 24,900, followed by 24,800, and stronger support at 24,500. 

 From a derivatives perspective, the 25,000 strike has the highest open interest for both calls and puts, making it a crucial pivot point. 

Chandel notes that unless Nifty decisively breaks above 25,200, the index will likely remain in a sideways range between 24,500 and 25,200.  

He believes the Nifty maintains its upward bias with strong support at lower levels. However, for the next leg of the rally, a clear breakout above the 25,070–25,200 resistance zone is required. 

Until then, traders should remain nimble and monitor volumes closely for confirmation of any breakout or reversal.

Analyst Bharat Sharma of Stockace Financial Services observed that the Nifty showed respect for the support at the 20 Exponential Moving Average (EMA) and the 24,900 mark, while also acknowledging resistance at the 25,070–25,100 range, which corresponded to previous peaks. 

With the market closing above 25,000, Sharma considered this a positive signal for bullish sentiment moving forward. 

For Tuesday’s trading session, he identified the 20 EMA at 24,980 as the immediate support level, adding that any significant downside movement would likely begin only if this level is breached. 

If the index fell below 24,980, Sharma sees further support at 24,900, followed by additional support in the 24,820–24,800 range.

And on the flip side, if Nifty managed to sustain itself above the 25,000 mark, he expected the index to attempt a breach of the 25,070–25,100 zone, which could potentially push it towards the 25,200 level and beyond.

Analyst Dipak Takodara also echoes a similar sentiment. He sees immediate resistance at 25,100–25,250 with the next leg at 25,650–25,750 if Nifty closes above 25,250. 

On the downside, Takodara pegs immediate support at the 9-day Simple Moving Average (SMA) of 24,850–24,900, followed by the 20 SMA at 24,600–24,650 and, on further selloff, at 24,350–24,400. 

He sees two scenarios for trade today. A break above 25,100–25,250 could trigger an upward move toward 25,650–25,750. While a fall below 25,100–25,250 suggests that current rangebound consolidation may continue. 

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