Nifty Struggles Below 25,000: SEBI RAs Highlight Key Resistance Levels

After two consecutive sessions of gains, the Nifty index hit the brakes on its upward momentum, ending below 24,900 on Tuesday. 

SEBI-registered analyst Mayank Singh Chandel highlighted that the index was once again rejected at the falling trendline connecting the September and May highs, marking the third straight failure near the 25,050–25,200 resistance zone. 

He added that the decline did not constitute a breakdown despite the setback. Nifty remains above the crucial short-term support at 24,700. Unless there is a decisive move below 24,500, the broader market structure continues to favor the bulls, but with some signs of temporary exhaustion.

Options market data shows that the 25,000 strike has emerged as the most active on both the Call and Put sides, making it a “make or break” level. 

Chandel notes that key levels to monitor include resistance at 25,000–25,200 and support at 24,700 (immediate) and 24,500 (critical).

Stockace Financial Services analyst Bharat Sharma highlights significant market uncertainty, as seen by high options premiums and a rising India Volatility Index (VIX).

He anticipates these sharp market fluctuations will continue until Thursday's expiry session.

Sharma pegs key support at 24,800. If this breaks, it could fall to 24,730, or even 24,660, 24,580, and 24,500. 

On the other hand, gains above 24,900 may lead to the index retesting the crucial 25,000 level, with resistance around 25,070–25,100.

Dipak Takodara notes the 25,100–25,150 area as immediate resistance, marking the top of the current consolidation phase.

Two possible scenarios for the upcoming session: A breakout above the 25,100–25,250 resistance could lead to bullish momentum with initial targets at 25,200–25,250. 

But markets will likely remain rangebound if it fails to breach this resistance.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on