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Trading Plan: Can Nifty 50 break 25,000, Bank Nifty fall below 57,000 amid consolidation?
- 24 Jul 2025
- JM Financial Services
Until the Nifty 50 trades below the 25,250–25,300 zone, consolidation may continue, with support at 25,000. If it breaks below this, 24,900 is the level to watch. Meanwhile, the Bank Nifty sustained above short-term moving averages, but if follow-through selling occurs and the index breaks the 20-day EMA (56,800), the correction may widen.
The Nifty 50 and Bank Nifty saw selling pressure after a day of rally. The Nifty 50 could not hold on to short-term moving averages, signaling weakness. Until the index trades below the 25,250–25,300 zone, consolidation may continue, with support at 25,000. If it breaks below this, 24,900 is the level to watch. Meanwhile, the Bank Nifty sustained above short-term moving averages, but if follow-through selling occurs and the index breaks the 20-day EMA (56,800), the correction may widen. On the higher side, the 57,300–57,350 zone is the level to watch, experts said.
Jay Mehta, Technical Research at JM Financial Services
The Nifty index currently trades above the psychological 25,000 level, supported last Friday at the 50-day EMA and a key Fibonacci retracement at 24,930. July’s price action reveals intense selling pressure, with larger candlestick ranges on down days versus up days, signaling weakness in the short-term structure. The RSI dips below 50, and the MACD shows a negative crossover and is approaching the centerline, indicating further consolidation or profit-taking in the near term. The broader range is 24,410–25,410, with a short-term range of 24,900–25,300. A decisive break below 24,900 could trigger a drop to 24,700 or 24,460, while sustaining above 25,410 is critical for a bullish view.
Key Resistance: 25,300, 25,460
Key Support: 25,000, 24,900, 24,700
Strategy: Adopt a range-trading approach — sell when the price approaches 25,300–25,350, setting a stop-loss at 25,410. For a bearish strategy, watch for a breakdown below 24,900, targeting 24,700 and 24,500, with a stop-loss at 25,000. For very short-term or intraday trades, buy on dips near 24,900, with a stop-loss at 24,860.