Trade Setup for June 30: Nifty eyes 26,000 as bullish momentum accelerates
The NSE Nifty 50 surged past its critical resistance zone of 25,300 during the week ending June 27, signaling continued bullish sentiment. Analysts at Bajaj Broking now forecast a potential upward move towards the 25,900–26,000 zone. The support level has shifted to the 25,100–25,200 range, which earlier marked the top of its consolidation phase.
Market sentiment remained robust, with sector-wide gains boosting overall breadth.
Amol Athawale, Vice President – Technical Research at Kotak Securities, highlighted that the 25,300–25,500 zone will act as a key retracement support in case of any pullbacks.
The bullish tone isn't limited to Nifty. Bank Nifty is also showing signs of strength, with Bajaj Broking projecting a rally towards 58,000–58,500. Fresh support has been revised to the 55,500–56,000 band.
On Friday, the Nifty 50 closed 88.8 points (0.35%) higher at 25,637.8, while the BSE Sensex rose 303.03 points (0.36%) to settle at 84,058.9. Intraday highs reached 25,654.2 for Nifty and 84,089.35 for Sensex.
Top gainers for the week included Jio Financial Services Ltd. and Asian Paints Ltd., which added fuel to the market's upward momentum.
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