After two sessions of profit-booking, the Nifty 50 resumed its uptrend and witnessed a sharp rebound on Wednesday, closing higher by 178 points.<\/p>\n
After opening on a positive note, the market saw a sustained upmove for most of the session. Intraday dips were bought into, helping the Nifty end the day near its highs.<\/p>\n
A long bull candle formed on the daily chart, indicating a strong counterattack by the bulls after a brief phase of weakness on Tuesday.
\n<\/p>\n
\nAmong Nifty constituents, Bajaj Finance, Nestle India, and Bajaj Finserv emerged as the top gainers, while Infosys, Bajaj Auto, and Tata Motors ended as the major laggards.<\/p>\n
Buying was broad-based, marking a complete reversal of the previous day’s selling. Except for Nifty Media, all sectoral indices closed in the green, led by Realty, PSU Bank, and Metal, which recorded the highest gains.<\/p>\n
\nThe Nifty Midcap 100 and Smallcap 100 indices also rallied in tandem with the benchmark.<\/p>\n
According to Nagaraj Shetti of HDFC Securities, the Nifty is now positioned near a breakout zone of multiple resistance levels, including a down-sloping trend line, previous swing high, and the upper range of recent sessions, around the 25,400-25,500 mark.<\/p>\n
He added that the underlying trend remains positive, and a decisive breakout above 25,500 could open the way for an upside towards 25,700-25,800 in the near term, with immediate support at 25,200.<\/p>\n
Sudeep Shah of SBI Securities said that 25,450 will act as an immediate resistance, coinciding with the previous swing high of September 18. A follow-through move above this level could extend the pullback to 25,650, while the 25,200-25,150 zone will act as crucial support.<\/p>\n
According to Rupak De of LKP Securities, the Nifty moved up smartly, shaking off the previous session’s weakness to close above the 25,250-25,300 resistance zone. In the short term, he expects the index to move towards 25,500-25,600, while a fall below 25,250 could trigger a short-term correction.<\/p>\n
Meanwhile, Nandish Shah of HDFC Securities believes that a sustained move above 25,400 would mark a technical breakout, potentially pushing the index towards 25,669, with support now shifting higher to 25,150.<\/p>\n","protected":false},"excerpt":{"rendered":"After two sessions of profit-booking, the Nifty 50 resumed its uptrend and witnessed a sharp rebound on Wednesday,…\n","protected":false},"author":2,"featured_media":3973,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[4088,79,18,19,26889,17,188,4373,75335,4374,2207,2206,4372,4375,211,15219],"class_list":{"0":"post-123872","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bse-sensex","9":"tag-business","10":"tag-eire","11":"tag-ie","12":"tag-infosys-share-price","13":"tag-ireland","14":"tag-markets","15":"tag-nifty","16":"tag-q2-results-today","17":"tag-share-market-setup","18":"tag-share-market-today","19":"tag-stock-market-today","20":"tag-trade-setup","21":"tag-us-stocks","22":"tag-wall-street","23":"tag-wipro-share-price"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/123872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=123872"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/123872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/3973"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=123872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=123872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=123872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}