Trade Setup for June 25: Nifty bulls eye breakout as expiry nears; Bank Nifty faces 56,800 hurdle
Despite the volatility, broader markets outshined the benchmark. The Nifty Midcap 100 and Nifty Smallcap 100 posted gains of around 0.70%, showcasing strong investor interest beyond blue-chip stocks.
The Nifty Bank index extended its rebound, closing at 56,461.90, up 402 points. However, it continues to face stiff resistance near the 56,800 mark. Analysts believe a decisive breakout above 56,850 is needed for a sustained uptrend.
Defence stocks witnessed profit booking after a sharp rally, while Oil & Gas counters declined due to falling Brent crude prices. On the upside, banking and financial stocks remained firm thanks to improving liquidity and regulatory easing.
Looking ahead, analysts expect the markets to hold firm, supported by easing geopolitical stress and favorable domestic indicators. Siddhartha Khemka of Motilal Oswal noted that optimism may continue if global tensions de-escalate further.
Nagaraj Shetti of HDFC Securities said the short-term trend for Nifty remains positive within a range. 'A sustained move above 25,300 could pave the way to 25,600. Key support lies at 24,900,' he added.
LKP Securities' Rupak De highlighted ongoing volatility but remained optimistic about Nifty reaching 25,350 if it holds above the 25,000 level. A break below could invite selling pressure towards 24,850.
Ajit Mishra of Religare Broking echoed a similar view, pointing out that while bears are active near 25,200, sectoral rotation and strength in midcaps offer trading opportunities.
Until the Bank Nifty breaks decisively above 56,850, the trend may stay choppy, added Om Mehra of SAMCO Securities, placing support around 55,700.
As expiry nears, all eyes remain on whether Nifty can break the false ceiling and push higher with conviction.
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