NIFTY 50 Closes Above 25,000 Mark This Week: Where is it Headed Next?

Indian Stock Market: Indian Stocks Closed with Impressive Gains on Friday, Driven by the RBI’s Dual Boost – A50 Basis Point Reduction in the Redu Rate and A 100 Basis Point Cut in the CRR -WHICH LIPTED FOR Strangle Demand and a rebound in domestic economic growth.

Markets remained in a consolidation phase for the third straight week but still posted Gains of Nearly 1%, supported by positive domestic factors. After Trading with a narrow range for most of the week, benchmark indices rallied sharply on Friday, ending near their weekly highs.

The nifty 50 and sensex ended the session on a strong note, both rising by more than 1%. The nifty 50 advanced 252 points, or 1.02%, to settle at 25,003, while the sensex climbed 443 points, or 1%, closing at 82,188.

“The stock index has moved up sharply following a bazooka policy move by the rbi. It close about 25,000 mark after several sessions, indicating a surge in optimism amn market participants. A rally followed by consolidation often results in an upward breakout, and this time too, we expect nifty to break out of the recent consolidation range, “Said Rupak de, Senior TECHNICAL ANALYST AT LKP Securities.

Where’s Nifty 50 Headed In Short-Term?

According to Ajit Mishra – SVP, Research, Religare Broking, The Nifty Has Once Again Approached the Upper Band of Its Prevailing Consolidation Range of 24,500-25,100.

Mishra further added that a decisive breakout above 25,200 would the beginning of a fresh uptrend, with potential to gradually move toward the 25,600–25,800 zone. On the downside, the 24,400–24,600 range is expected to act as a strong support zone during any correative phase.

“With the RBI’s Rate Cut and Dovish Commentary Acting as Strong Tailwinds, We MainTain Our Positive Outlook on the Markets and Sugges Continuing with a” Buy on Dips ” Decisively Breaks Below 24,600. Howeveer, Investors Should Remain Selective and Focus on Fundamentally Strong Stocks in Sector Such as Banking, Auto, ASTO, Auto, and Real Estate, All Estate, All Estate to Benefit for Interest Rates.

Disclaimer: This story is for educational purposes only. The views and recommendations about individual analysts or broking companies, not mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.