Indian stock market: Nifty 50 falls below 25,300. Can it slip back to 25,000?

Indian stock market: Indian equities began Monday’s session on a weaker note, extending the previous round of profit-taking, with IT stocks weighing the most after the U.S. sharply increased the one-time H-1B visa fee to $100,000 ( ₹88 lakh). The move dampened sentiment in a sector that had only recently begun to recover.

At the opening bell, the S&P BSE Sensex declined 0.37 per cent to 82,323.62, down 302.61 points, while the NSE Nifty 50 slipped 0.26 per cent to 25,260, losing 67.05 points. By around 9:30 AM, the Sensex was trading 182 points, or 0.22 per cent, lower at 82,443, and the Nifty50 was down 40 points, or 0.16 per cent, at 25,288.

“Last week's achievement of the 25400-600 objective, along with an evening star candle formation prompts us to look for a pull back instead of extending upside objectives right away. Favoured rest point is 24880-800. However, should slippages not stretch beyond the 25200-25000 region, we could as well be seeing a sideways move, followed by recovery attempts, though an outright penetration of 25669 is less expected,” said Anand James, Chief Market Strategist, Geojit Investments Limited.

The Nifty index displayed strong bullish momentum over the past week, advancing 213 points and forming a bullish candle, marking the third consecutive week of gains.

According to Amruta Shinde, Technical & Derivative Analyst, Choice Broking, The index has held firmly above the 25,300 mark, closing at 25,327. Nifty continues to trade above its key moving averages—the 20-day, 50-day, and 200-day EMAs—further confirming the broader bullish undertone.

“As long as the index remains above these moving averages, market sentiment is expected to stay constructive. On the upside, immediate resistance levels are seen at 25,500, followed by 25,600 and 25,850. On the downside, support is placed at 25,150 and then at 25,000, with a deeper breakdown below 24,900 likely to trigger additional downside pressure,” Shinde said.

Support Levels:- 25150-25000

Resistance Levels :- 25600-25850

Overall Bias :- Sideways To Bullish

Bank Nifty ended the week on a positive note, closing at 55,458.85 after recovering nearly 649 points during the week. The index has demonstrated resilience by sustaining above the 55,400 mark and closing in the green for the third consecutive week.

“If the buying momentum continues and the index decisively crosses 55,750, it could pave the way for further upside towards 56,000 and 56,500 levels. On the downside, immediate support is placed at 55,000. A sustained breakdown below this level could trigger fresh selling pressure, with potential targets at 54,830 and 54,500,” Shinde said.

Support: 55000-54830

Resistance: 56000-56500

Bias- Sideways to Bullish

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

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