Analysts See Consolidation Before Breakout Above 25,450

Indian equity markets ended higher on Thursday, with the Nifty index scaling above 25,400. However, the GIFT Nifty indicates a negative start for the benchmarks on Friday, tracking mixed global cues.

SEBI-registered analysts shared the trade setup for September 19 on Stocktwits. They believe that Nifty may consolidate before a decisive breakout, with the 25,400–25,450 range key for near-term direction.

Trade Setup For Friday

Bharat Sharma of Stockace Financial Services noted that while the markets got a boost from the US Federal Reserve’s rate decision, Sensex expiry kept the Nifty index constrained within the 25,400 to 25,450 range. The daily candlestick pattern shows a hammer-like candle, indicating bulls are currently saturated and facing challenges to push the index higher beyond 25,400. Future strength will depend on how the index holds above this level.

Positionally, if the bulls regain momentum and continue the upward trend, the Nifty could move toward the 25,600 to 25,650 range (previous peaks’ resistance zone ). Still, Sharma believes that it is more likely for the market to consolidate for a few days before breaking significantly above 25,450. If the momentum weakens here, correction is likely below 25,400 with supports around 25,150 to 25,000.

For intraday trading, Sharma identified Immediate resistance at 25,450. A breach above this could lead to 25,520 to 25,600 levels. However, if there is another gap-up opening, further upward movement may be limited due to the loss of intensity and the strong resistance ahead. Immediate support is seen at 25,400 and 25,390, with next support between 25,350, 25,290, and 25,200.

Prabhat Mittal pegged Nifty support at 25,280, with resistance at 25,650. For Bank Nifty, he sees support at 55,400 and resistance at 56,200.

A&Y Market Research pegged Nifty intraday resistance at 25,439 – 25,455, with support at 25,317 – 25,333. For Bank Nifty, they see resistance at 55,850 – 55,921 and support at 55,443 – 55,557.

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