Stock market today: Indian indices – Sensex and Nifty – opened on a flat note in Wednesday’s trading session, despite positive market buzz in US and Asian peers.
At the beginning of the trading session, the BSE Sensex stood at 81,457.61, registering a drop of 94 points or 0.12%, while the NSE Nifty 50 opened slightly higher at 24,832.50, up by 6.30 points or 0.03%.
In the initial trading hour on the NSE, the Nifty FMCG index declined by approximately 1.22%, making it the worst-performing sector, followed by losses in Metal, Consumer Durables, and Auto. On the other hand, Nifty IT gained 0.5%, leading the advancing sectors, with Nifty PSU Bank and Nifty Realty each rising by 0.3%.
On Tuesday, both indices fell more than 1 per cent due to weak global cues and heavy profit booking ahead of monthly expiry. The NSE Nifty declined by 0.7%, dropping 174.95 points to close at 24,826.20, while the BSE Sensex slipped 0.8%, falling 624.82 points to end at 81,551.63.
“The nifty ended lower yesterday in a rather volatile trading session. Technically speaking, 24462 remains a critical swing low. If it holds – and this is the preferred view – the market will target first resistance at 25116 and then 25390. On the other hand, should 24462 break, a “rising wedge” pattern will be activated, with a downside target set near the 23900 – 24000 area. We mentioned 24822 yesterday as important short-term support, and despite falling below this level, the index closed slightly above it. The message is that this level remains important tactically. Meanwhile, the global macro picture and market sentiment remain supportive, especially with President Trump extending the deadline for EU tariffs to the 9th of July,” said Akshay Chinchalkar, Head of Research, Axis Securities.
Nifty 50 to cross 25K level or more pain ahead?
Riyank Arora, Technical Analyst at Mehta Equities Ltd, says that Nifty 50 is currently navigating a crucial juncture, with the 25,000 mark acting as a psychological and technical hurdle.
Despite recent attempts, the index has struggled to sustain momentum above this level. The immediate resistance lies at 25,100–25,150, and only a decisive breakout above this zone, backed by strong volumes, can signal a fresh leg of the rally. Until then, upside moves may face selling pressure from short-term traders booking profits near resistance.
On the downside, the 24,700 level remains a key support. A breach below this level could trigger a deeper correction, potentially dragging the index toward lower support zones around 24,500, according to Arora.
“With the market showing signs of indecisiveness and global cues adding to volatility, traders should stay cautious. For now, Nifty needs to hold above 24,700 and convincingly break past 25,150 for any meaningful upward momentum to resume,” Arora added.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
