The Nifty closed with a gain of 148 points at 25,001, marking its highest close since May 16, 2025.
The Midcap Index outperformed. The Nifty Midcap 100 Index rose 0.67%, while the Nifty Smallcap 100 Index advanced by 0.37%.
All sectoral indices concluded the day in the green, with Nifty Auto, IT, FMCG, and Metal sectors registering the most significant gains.
JSW Steel rebounded 3% from lows as the Supreme Court allowed the steel major and its committee of creditors to file review petitions with regards the Bhushan Power & Steel liquidation. The SC said that JSW Steel has the right to file the review and that time is not over for filing the review petition.
Gillette India Ltd., the grooming products manufacturer, reported is March quarter results, following which, the stock surged as much as 12% in response.
Meanwhile, both domestic and foreign investors were net buyers in the cash market on Monday.
Market sentiments were buoyed by positive global cues after US President Trump deferred the proposed 50% tariffs on the European Union till July’25. Additionally, investor optimism was boosted by NITI Aayog’s update on India surpassing Japan to become the fourth-largest economy globally, said Siddhartha Khemka of Motilal Oswal.
What do the Nifty 50 charts indicate?
Hrishikesh Yedve of Asit C Mehta Investment Interrmediates said the Nifty is still placed near the psychological resistance level of 25,000. A sustainable move above 25,000 could drive the index towards 25,200–25,250 levels in the short term.
“On the downside, 21-Day Exponential Moving Average (21-DEMA) support is placed near 24,530. As long as the index holds above this level, a buy-on-dips strategy should be adopted,” he added.
Rupak De of LKP Securities advised investors to buy on any dips from here. “In the short term, the index is likely to remain strong with the potential to extend its gains towards the 25,300–25,350 range. On the lower end, support is visible at 24,800.”
According to Nandish Shah of HDFC Securities, the Nifty appears to have regained its momentum, decisively breaking out from its consolidation zone of 24,500-25,000. “Immediate resistance is now seen at 25,207, a level derived from the 76.4% Fibonacci retracement of the entire fall from 26,277 to 21,743. On the downside, 24,800 could offer immediate support for the Nifty.”
What do the Nifty Bank charts indicate?
The Nifty Bank index ended at 55,572, up 173 points or 0.31%. The index has remained in a narrow consolidation zone for the past 11 sessions, moving between 54,442 and 55,876. During the day, the index approached the upper boundary of this range but once again fell short of a breakout.
Om Mehra of SAMCO Securities said the index holds firmly above all key moving averages, indicating short-term support remains intact. The 20-Day simple moving average, currently at 54,980, may act as immediate support in case of any minor pullback.
“A sustained close above 55,700 could push the index higher, with scope to retest the all-time high near 56,100,” Mehra said.
