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<\/p>\nAfter failing to break past the 24,700-mark on Tuesday, the Nifty 50 rebounded on Wednesday in a range-bound session, ending the day 131 points higher at 24,631.<\/p>\n
The index opened strong and maintained a steady upward move through most of the session. However, 24,700 continues to act as a key resistance.<\/p>\n
Gains were led by pharma, metal, and auto stocks, with Hero MotoCorp topping the chart as buying interest in auto counters continued ahead of the festive season.
\n<\/p>\n
\nMeanwhile, foreign investors were net sellers in the cash market on Wednesday, while domestic investors were net buyers.<\/p>\n
<\/p>\n
\nHDFC Securities\u2019 Nagaraj Shetti said the short-term trend remains positive, and a decisive move above 24,700 could pave the way for a rally towards 25,000. Immediate support is seen at 24,465.<\/p>\n
LKP Securities\u2019 Rupak De said that Nifty\u2019s close at a multi-day high signals improving sentiment despite tariff-related concerns. The daily RSI has turned positive after days of indecision, raising the chances of a breakout above 24,700. A move above this level could take the index to 25,200 in the short term, while support lies at 24,337.<\/p>\n
According to SAMCO Securities\u2019 Om Mehra, support is placed at 24,520 and 24,450. The index may continue oscillating within a broader range in the next session, but a buy-on-dip approach is likely to work if it sustains above the resistance zone.<\/p>\n
The Nifty Bank index ended at 55,181.45, up 0.25%, after swinging between 55,340.05 and 55,026.95. The index is still locked in a narrow range as Bollinger Bands contract, suggesting uneven price moves ahead, Mehra said.<\/p>\n
Support lies in the 54,950-55,000 range, where the 100-SMA is placed. However, the index remains capped below the 9-EMA, 20-SMA, and 50-SMA, all sloping downwards. Momentum indicators are showing slight improvement, with RSI climbing above 40 and MACD flattening, hinting at early signs of recovery.<\/p>\n
On the hourly chart, Nifty Bank is trying to form a base. A close above 55,350-55,450 could open the way for more upside. For now, 55,050-54,950 remains the immediate support, followed by 54,700 on further weakness. The outlook stays mildly positive as long as the 100-SMA holds.<\/p>\n","protected":false},"excerpt":{"rendered":"After failing to break past the 24,700-mark on Tuesday, the Nifty 50 rebounded on Wednesday in a range-bound…\n","protected":false},"author":2,"featured_media":3973,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[4088,79,18,19,17,188,4373,4376,4374,2207,2206,4372,4375,211],"class_list":{"0":"post-3972","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-ireland","13":"tag-markets","14":"tag-nifty","15":"tag-q1-results-today","16":"tag-share-market-setup","17":"tag-share-market-today","18":"tag-stock-market-today","19":"tag-trade-setup","20":"tag-us-stocks","21":"tag-wall-street"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/3972","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=3972"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/3972\/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=3972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=3972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=3972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}