Nifty 50 opened steady on Monday, with price action hovering just below the 25,344 mark, a level traders have been eyeing for weeks. The index is attempting to break through the top end of its range after consolidating for most of June, and momentum appears to be tilting slightly in favor of the bulls.
As of mid-morning, the benchmark is trading near 25,104, holding firm despite global caution around rates and currency volatility. Domestic flows remain solid, and traders are largely focused on the technical breakout zone that’s been building pressure since late May.
The chart has been tight but constructive. Price continues to respect support at 24,800 and is now coiling underneath 25,344, the key resistance that capped multiple intraday rallies over the last three weeks. If that breaks, there’s not much in the way up to 26,250.
Banking and FMCG stocks are holding the line, with autos adding weight on the upside. Foreign investors stepped up activity late last week, particularly in energy and infrastructure names. Domestic institutions remain net buyers, which is giving the market stability even as global headwinds persist.
Crude oil is off last month’s highs and that’s keeping inflation anxiety muted, a win for the RBI and a green light for growth-sensitive sectors.
Unless the market gets spooked by an external macro shock, Nifty looks like it’s setting up for another push higher. A clean break above 25,344 could bring quick momentum toward the 26,000 zone. But failure to clear it again may invite short-term exhaustion and rotation back to 24,800.
For now, the trend is intact, and the buyers are still in control.
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This post was last modified on Jun 09, 2025, 09:01 BST 09:01