India Markets: As Nifty Struggles To Clear 25,200, SEBI Ras Warn Of Slipping Back Into Breakdown Zone

India's Nifty 50 index remained under pressure on Tuesday after failing to hold early gains for a second straight session. 

Bharat Sharma of Stockace Financial Services said the index had opened with a substantial gap-up but failed to sustain the higher levels by the close. 

He noted that Nifty had breached a box formation identified earlier on the daily chart during Monday's session, but the move did not gain further traction. 

The same pattern repeated on Tuesday, with another gap-up open followed by a close in the red.

Sharma observed that both recent candles remained above the prior box formation but were red, indicating that while market sentiment remained bullish, upside momentum was lacking. 

He added that a fresh bullish push is needed to trigger further gains.

On the daily chart, Sharma outlined two possible outcomes: a downward move back into the earlier box formation, which he said was the more likely scenario, or a renewed upward move requiring a strong green candle. 

He cautioned that there was a constant risk of re-entering the box if the index fell below the 25,080–25,100 zone.

He identified this zone as immediate support and noted that if breached, the index could move towards 25,030, 24,960 and 24,880. 

He also said that a sustained move below this range could lead to further corrective waves within the earlier range.

For the upside, Sharma maintained 25,130–25,140 as immediate resistance. A breach of this range could push the index back toward 25,200 and above. 

He considered 25,200 a key positional resistance level, stating that sustained trade above it would open the path toward 25,400 and higher levels.

Sharma also said that the India VIX was in a declining trend and options premiums were falling rapidly despite only two sessions left before expiry. 

He interpreted this as a sign that while market sentiment remained bullish, expectations for large moves were low, and the overall environment was one of caution.

Separately, Financial Sarthis provided intraday levels for the Nifty 50 and Bank Nifty. 

For Nifty, resistance was seen at 25,142, 25,163 and 25,199, with support at 25,055, 25,027 and 24,900. 

For the Bank Nifty, resistance levels were placed at 56,730, 56,806 and 56,980, and support was expected at 56,580, 56,520 and 56,347.

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