Wednesday, July 2, 2025

Technical View: If the Nifty breaks the support of 25,200, then silver will be of the mandis, know the important levels of the bank Nifty - Technical View If Nifty Breaks The Support of 25200 then bears will have a goes will have a go Time KNow the IPORTANT LEVELST LEVELS nifty


Technical View: The Nifty 50 continued its consolidation movement. Today, on July 2, due to profit booking, it closed down 0.35 percent. The index fell more than 200 points from its recent swing high. Consolidation is expected to continue as long as it trading below 25,700. According to experts, the zone of 25,300-25,200 is acting as a support. A decisively closed index under this support zone can bring down to a level of 25,000-24,800. However, the trick above 25,700 can open the way to lead the index to a level of 26,000.

How can Nifty’s move be on Thursday 3 July

The Nifty opened at 25,588 and climbed up to 25,608. But this lead could not remain intact for a long time. In the morning session itself, the index went into the red mark and then remained under pressure. It closed at 25,453 down 88 points and created a bearish candlestick pattern with minor lower shadow on the daily chart.

Technically, this market action is indicating correction from near the resistance of the previous early down-gap around the level of 25,700.

Nagraj Shetty of HDFC Securities said, “Nifty is now slipping down to important cluster support of 25,300-25,200 levels.” However, he believes that the lower support zone mentioned in the next 1-2 sessions is more likely to have a sharp bounce.

How can Bank Nifty move on Thursday 3 July

Bank Nifty showed more selling pressure than Nifty 50. The banking index fell 460 points (0.8 percent) to 56,999. It created a long bearish candle on the daily time frame. This pattern is indicating increasing selling pressure. In particular, the daily RSI has slipped below 60 points and is continuing the trend downwards. This is indicating weak Momentum in the near period.

Sudip Shah of SBI Securities said “10-Day EMA of 56,850-56,800 will serve as immediate support for the index. It will take any permanent move below the 56,800 level below the level of 56,400.”

However, at the top, there will be significant resistance for the 57,200–57,300 zone index. “Any permanent move above the level of 57,300 will resume its journey above,” he said.

Meanwhile, India VIX i.e. Volatibility Index, Lower Zone. Due to this, the sharpness remained in the comfort zone. Today VIX fell 0.66 percent to 12.44 zone.

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