At the beginning of the trading session, the bse senses studs at 81,457.61, registering a Drop of 94 points or 0.12%, while the nse nifty 50 opened Slightly Slightly Higher at 24,832.50, up by 6.30 Points or 0.03%.
In the initial trading house on the nse, the nifty fmcg index declared by approximately 1.22%, Making it the Worst-Peerforming Sector, Followed by Losses in Metal, Consumer Durbles, and Auto. On the other hand, nifty it gained 0.5%, leading the advancing sector, with nifty psu bank and nifty realty each Rising by 0.3%.
On tuesday, both indices fell more than 1 per cent du to weak global cues and heavy profit booking ahead of monthly expiry. The nse nifty declined by 0.7%, dropping 174.95 points to close at 24,826.20, while the bse sensex slipped 0.8%, Falling 624.82 points to end at 81,551.63.
“The nifty ended lower yesterday in a raather Volatile Trading Session. Resistance at 25116 and then 25390. On the other hand, Should 24462 Break, A “Rising Wedge” Pattern will be active, with a downside target set near the 23900 – 24,000 AREA Important Short-Term Support, and Despite Falling Belling This Level, The Index Closed Slightly Above it. Market Sentiment Remain Supportive, Especially with President Trump Extending The Deadline for Eu Tariffs to the 9th of July, “Said Akshay Chinchalkar, Head of Research, Axis Securities.
Nifty 50 to cross 25k level or more pain ahead?
Riyank Arora, Technical Analyst at Mehta Equites Ltd, Says That Nifty 50 is Currently Navigating A Crucial Juncture, with the 25,000 mark acting as a psychologist and technical Hurdle.
Despite Recent Attempts, The Index has Struggled to Sustain Momentum Above This Level. The IMMMIDITE Resistance Lies at 25,100–25,150, and only a decisive breakout Above this zone, backed by strong volumes, can signal a fresh leg of the rally. Until then, UPSIDE MOVES May Face Selling Pressure from Short-TRM Traders Booking Profits Near Resistance.
On the downside, the 24,700 level remains a key support. A Breach Below This Level Could Trigger a Deeper Correction, Potentially dragging the Index Toward Lower Support Zones Around 24,500, According to Arora.
“With the market showing signs of indexiveness and global cues adding to Volativity, traders should stay stay cautious. Upward Momentum to Resume, “Arora Added.
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