NIFTY TECHNICAL OUTLOOK
Based on Market Closing on Tuesday, March 25, 2025
The Nifty closed at 23,668.65, gaining 10.35 points or 0.04% in the previous session. The positive momentum will continue if the index closes above the 23,800 resistance level.
Nifty opened on a positive note at 23,751.50 and tested the intraday high of 23,869.60 in early trade. However, the index faced selling pressure and declined to an intraday low of 23,601.40, before settling at 23,668.65. Sector-wise, IT, financial services, and private banks were the top performers. Market breadth was negative, with 643 stocks advancing, 2,176 declining, and 70 remaining unchanged. Among Nifty constituents, ULTRACEMCO, BAJAJFINSV, and TRENT were the top gainers, while INDUSINDBK, DRREDDY, ADANIENT, and COAL INDIA were the biggest laggards.
Technical Analysis
Momentum indicators continue to favor the bulls, with the index holding above its short-term and medium-term moving averages. A small black candle formed on the daily chart after six consecutive white candles, yet the index managed to close above the previous close, suggesting that the bullish momentum is still intact.
On the upside, immediate resistance is at 23,800. A sustained close above this level could extend the rally toward the 24,225 mark. However, failure to break this resistance may lead to short-term consolidation. On the downside, intraday support is at 23,600, with further supports at 23,500 and 23,400.
Key Levels to Watch
Intraday Levels (15-Minute Charts) Support: 23,600, 23,500, 23,400 Resistance: 23,745, 23,870–24,000
Positional Trading Levels Short-term Support: 23,250–22,680 Resistance: 23,800–24,225
The overall trend remains positive, with the bulls maintaining control as long as Nifty holds above key support levels. A decisive breakout above 23,800 could drive further gains, while failure to breach this level may result in a consolidation phase. Traders should watch intraday levels closely for short-term opportunities.
BANK NIFTY TECHNICAL OUTLOOK
In the previous session, Bank Nifty closed at 51,607.95, recording a loss of 97.00 points. Despite this decline, technical indicators suggest a positive trend, as the index remains above its short-term and medium-term moving averages.
On the daily chart, a black candle formation indicates mild weakness, with the index closing just below the previous close. The immediate resistance is at 51,750—a decisive close above this level could resume the uptrend, potentially driving the index higher. However, failure to surpass this level may lead to a short-term consolidation. The nearest intraday support stands at 51,500.
Key Levels to Watch
Intraday Levels (15-Minute Charts) Support: 51,500, 51,150, 50,800 Resistance: 51,850, 52,250, 52,550
Positional Trading Levels Short-term Support: 50,600–49,750 Resistance: 51,750–53,650
The overall trend remains bullish, with momentum favoring the upside if the index closes above 51,750. Otherwise, a period of sideways movement may be expected. Traders should monitor key support and resistance levels for potential opportunities.