Technical Forecast: Nifty marches ahead; nearing 25,500 zone

Equities extended their three-week advance, with Nifty edging closer to the psychologically important 25,500 mark. Market breadth ended broadly neutral, hinting at consolidation beneath resistance even as momentum firms up.

Nifty: momentum builds near resistance

Nifty opened with a gap near 25,400, weathered midday volatility, and clawed back in the final hour to finish on a constructive note above 25,400. A sustained push through 25,500 would likely reinforce the uptrend and could unlock follow-through toward 25,700 initially and 26,300 on extension. On the downside, the 50-EMA around 24,900 stands out as a pivotal support that bulls would want to defend to keep the medium-term structure intact.

Expected daily range: 25,300–25,600.

BankNifty: eyeing a breakout

BankNifty has been grinding higher for two weeks and now hovers near the 56,000 area. The index has already crossed above its 100-SMA near 55,700, improving the bias. A decisive move and close above 56,000 would likely confirm a fresh upswing with clearer trend conviction. Key support sits at the 50-EMA near 55,180; holding this zone would help preserve the constructive setup.

Expected daily range: 55,300–56,400.

Levels at a glance

• Nifty intraday support: 25,300
• Nifty intraday resistance: 25,600
• BankNifty intraday range: 55,300–56,400

Overall, the trend remains upward while Nifty stays above 24,900 and BankNifty above 55,180. A clean breakout over 25,500 on Nifty and 56,000 on BankNifty would likely extend gains, though near-term consolidation around these thresholds cannot be ruled out.