The Nifty 50 today opened on a cautious note after a sharp rebound earlier this week, with global cues mixed and traders assessing technical levels closely. Following the Reserve Bank of India’s decision to hold the repo rate steady at 5.50%, optimism has returned to Indian markets, but the focus now shifts to whether the nifty share price momentum can sustain above key resistance zones.
Nifty 50 Rebounds After Losing Streak
On Wednesday, the Nifty 50 closed at 24,836.30, gaining 225 points or 0.92%. This rally snapped an eight-day losing streak, driven by strong buying in banking, auto, and realty stocks. Analysts highlighted that the index formed a bullish candle on the daily chart, signaling a potential short-term reversal.
The nifty 50 chart shows that the index bounced back from crucial support at 24,500–24,400, an area aligned with both its ascending trend line and 200-day EMA. This zone is now considered a firm base for traders watching near-term levels.
Key Resistance and Support Levels
Technical analysts are pointing to 25,000–25,200 as the next immediate resistance range for the nifty 50 today. A convincing move above 25,200 could push the index toward 25,500 in the coming week. On the downside, support lies at 24,600, with stronger levels at 24,400 and 24,000 if selling pressure returns.
Om Ghawalkar, Market Analyst at Share.Market (PhonePe Wealth), noted that the larger trend remains bullish with higher highs and higher lows on the weekly chart. “The recent swing low of 24,587 can be seen as a higher bottom, confirming strength in the trend,” he said.
Bank Nifty Adds Strength
The Bank Nifty also closed higher, up 712 points or 1.30% at 55,347.95, forming a bullish Marubozu candle. Analysts say this pattern reflects strong institutional buying, particularly in private sector banks.
With key moving averages shifting higher, Bank Nifty has immediate resistance at 55,700–56,000, while support is placed around 54,900. The broader strength in banking stocks continues to support overall nifty today sentiment.
Nifty 50 Share Price Outlook
The nifty 50 share price remains sensitive to both domestic and global triggers. While RBI’s policy stability has provided relief, traders are cautious about external risks such as oil price volatility, U.S. Federal Reserve decisions, and global geopolitical tensions.
At the same time, analysts note that Indian markets are entering the festive season, traditionally a strong demand period for sectors such as auto, retail, and consumer durables, which could provide additional support to the nifty50 index.
Stocks in Focus: Sun TV and More
Among individual stocks, Sun TV has emerged as one of the notable gainers in recent sessions. Analysts attribute the rise to improving media sector sentiment and strong festive advertising demand. Sun TV’s performance is also being closely watched on the nifty 50 chart, as it could influence short-term trading strategies within the media segment.
Other heavyweights such as Reliance, HDFC Bank, and Tata Motors are also expected to remain in focus as earnings season approaches.
Global Market Influence
Traders continue to monitor the Dow Jones and other global indices for direction. Overnight weakness in U.S. markets has capped upside momentum, but steady Asian cues and falling crude prices are offering some balance.
Indian equities remain attractive for foreign institutional investors, though inflows are likely to remain selective until clearer global signals emerge.
Conclusion
The nifty 50 today is positioned at a critical juncture. A breakout above 25,200 could open the path to 25,500, while failure to sustain momentum may bring the index back toward 24,600.
For now, the nifty share price outlook remains cautiously optimistic, supported by strong technical recovery and stability in banking stocks. However, traders are advised to watch global cues and sector-specific earnings closely.
With nifty 50 share price action heating up, and stocks like Sun TV showing momentum, investors may find opportunities in select sectors. As always, careful monitoring of resistance and support zones will be key to navigating the next phase of the market rally.
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