Seven Straight Gains: Nifty’s Streak Finds Strength at 25k

Nifty Market Overview

The Nifty 50 index extended its winning streak for the seventh consecutive session, closing at 25,005.50 with a modest gain of 0.13%. Importantly, the index has broken free from its prolonged consolidation and successfully reclaimed the psychological 25,000 mark.

On the technical front, Nifty has:

• Regained levels above key short-term moving averages,
  
  
• Sustained beyond the declining trendline from previous swing highs, and
  
  
• Held firmly above the 50% Fibonacci retracement, aligning with the 25,000 breakout zone.
  
  

The RSI strengthened to 57, reflecting positive momentum, while the ADX at 17 indicates that trend strength is still developing, leaving room for further upside.

 Nifty Key Levels

• Support Zone: 24,880–24,800 (Middle Bollinger Band + breakout support).
  
  
• Resistance Zone: 25,150–25,220.
  
  
• Upside Target: 25,350 (if resistance breaks decisively).
  
  

The broader sentiment remains positive, with a buy-on-dip strategy favored as long as 24,800 holds.

Nifty Bank Performance

The Nifty Bank index closed at 54,669.60, up 0.24%, forming a bullish candle on the daily chart.

Key highlights:

• The index is sustaining above the 9-EMA and 20-EMA, strengthening the near-term outlook.
  
  
• However, the 50-DMA remains a crucial resistance, which must be crossed for extended upside momentum.
  
  
• The RSI improved to 47, nearing the neutral 50 mark.
  
  
• MACD is showing a positive histogram build-up, confirming a bullish crossover.
  
  

 Bank Nifty Key Levels

• Support Zone: 54,300–54,200.
  
  
• Resistance Zone: 54,850–55,000 (aligned with 50% Fibonacci retracement).
  
  
• Bullish Trigger: Sustaining above 55,000 could fuel a rally toward higher levels.
  
  

Sector-wise, Nifty Private Bank gained 0.29% and Nifty PSU Bank advanced 0.74%, reflecting broad-based banking sector participation.