BREAKDOWN BELOW 25,000 COULD BRING SELLING PRESSURE ON NIFTY, BREACHING 25,200 CRUCIAL FOR BULLS: ANALYSTS

The equity benchmark Sensex snapped its four-day winning streak on Tuesday, closing 53 points lower amid profit-taking in banking and energy stocks, even as Nifty managed to extend gains for a fifth straight session.

"Markets traded in a lacklustre manner and ended almost unchanged, taking a breather after the recent surge. Participants remain slightly cautious amid mixed global cues, and the divergent trend among index heavyweights continues to weigh on overall sentiment," said Ajit Mishra, SVP - Research, Religare Broking Ltd.

Technical analysts said a decisive move below 25,000 could trigger fresh selling in Nifty, while reclaiming 25,200 remains critical for bullish momentum.

"On the daily chart, the Nifty formed a strong bearish candle with open and high nearly identical, indicating selling at higher levels. The intraday recovery attempt was weak and reflects indecision in the market. Support is seen at 25,000, followed by a critical zone near 24,800. On the upside, resistance is placed at 25,200 and 25,300. A clear breakout above these levels is needed to sustain the uptrend," said Hardik Matalia, Derivatives Analyst, Choice Broking.

Rupak De, Senior Technical Analyst at LKP Securities, said the index has maintained its position above the previous consolidation zone, suggesting continuation of the upward trend. "The positive sentiment is likely to stay intact as long as Nifty holds above 24,850. On the upside, the index could move towards 25,350. However, a fall below 24,850 may lead to a correction,” he added.

Meanwhile, the India VIX dropped 4.83 percent to 13.98, indicating easing market volatility.

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2025-06-10T12:16:35Z