Five Green Closings in a Row; Nifty Reclaims 25,050 with Strength

Nifty extended its winning streak to five consecutive sessions, closing higher by 0.28% at 25,050.55. The index managed to reclaim the critical 25,000 mark, which also coincides with the 50% Fibonacci retracement from recent corrective swings, underscoring a shift toward recovery momentum.

Nifty Technical Overview

• The next key resistance lies at 25,160, aligning with the 61.8% retracement level, beyond which the index may open the path toward 25,320–25,450.
  
  
• On the downside, 24,900–24,850 remains a strong support band, offering a cushion for near-term dips.
  
  
• Nifty now trades comfortably above the 9-EMA (24,800) and 20-EMA (24,780), both of which have turned supportive after weeks of downward pressure. Additionally, holding above the 50-SMA (25,000) strengthens the case for sustained bullish momentum.
  
  
• Momentum indicators are showing improvement:
  
  
  • RSI at 57 → steadily approaching the bullish zone.
    
    
  • MACD → has crossed into positive territory, signaling a constructive undertone.
    
    
• The current candle sequence, with back-to-back higher closes, reinforces optimism and suggests any dips may be absorbed as buying opportunities.
  
  

Nifty Bank: At a Crossroads

The Bank Nifty closed at 55,698.50, down 0.30%, forming an indecisive candle after intraday swings on both sides. While the index is attempting to recover from its recent corrective phase, a decisive breakout is still awaited.

• On the daily chart, minor support comes from the 9-SMA (55,520), while immediate resistance is placed at the 20-SMA (55,840).
  
  
• The index is also hovering near the 100-SMA (55,300), which has been offering a steady support base.
  
  
• Key levels to watch:
  
  
  • Support: 55,500–55,300
    
    
  • Resistance: 55,840–56,000. A breakout above this zone may lead to 56,250, whereas a slip below 55,300 could invite renewed weakness.
    
    
• Indicators:
  
  
  • RSI at 47 → showing gradual improvement but still below the neutral 50 mark.
    
    
  • MACD positive crossover → reflecting a shift in trend, though confirmation will require sustained moves above short-term moving averages.
    
    
• The index continues to oscillate between the 23.6% and 38.2% Fibonacci retracement levels, suggesting ongoing consolidation.
  
  

Market Outlook

The broader setup favors a buy-on-dips strategy for Nifty, with strong support at 24,850–24,900. A sustained close above 25,160 could act as a breakout trigger for further upside toward 25,320–25,450.
For Bank Nifty, 55,500–55,300 remains a crucial demand zone, while a breakout above 56,000 would confirm bullish momentum. Until then, consolidation may continue.