Will Nifty Test New Highs? SEBI Analysts See Key Resistance At 25,40025,650

Indian equity markets ended higher on Wednesday, with the Nifty index holding above 25,300. Benchmarks are likely to open on a positive note, following the 25 bps rate cut from the US Federal Reserve. The US central bank has reduced its benchmark rate to a range of 4 to 4.25% and indicated potential rate cuts, with two more expected in 2025 and an additional one in 2026.

Will Nifty scale new highs on Thursday? SEBI-registered analysts shared the trade setup for September 18 on Stocktwits. 

Trade Setup For Thursday

Bharat Sharma of Stockace Financial Services said that from a positional perspective, next resistance zone is seen at 25,400–25,450. Since the market successfully broke through the earlier resistance at 25,140–25,150, momentum has turned extremely bullish. 

In such conditions, the preferred strategy remains to buy on dips above the 25,000 mark, provided no significant negative developments haunt the market. While Sharma does not rule out the possibility of some corrections, he believes that they would be healthy in nature. If there are any significant retracements at important levels, he advised selective scalping on the downside with caution, keeping in mind the principle that“the trend is your friend.”

For intraday trading, Sharma identified immediate resistance at 25,350, which, if breached, could lead to 25,400-25,450 and potentially higher levels. The earlier peak around 25,600–25,650 acts as a broader resistance now, suggesting a potential pause in the momentum within the 25,400–25,650“decider zone” for the next round of analysis.

On the downside, immediate support is seen at 25,300-25,290, followed by 25,260–25,220–25,175–25,140–25,100 levels. As we head into the Sensex expiry session on Thursday, option premiums are priced at moderate levels, and traders are gearing up for heightened volatility. Sharma concluded that the outlook remained positively biased, with a buy-on-dips approach while maintaining caution in case of corrective moves.

Prabhat Mittal pegged Nifty support at 25,280, with resistance at 25,520. For Bank Nifty, he sees support at 55,100 and resistance at 56,000.

Vinay Taparia added that the Nifty index has no significant resistance before the 25,650-25,700 zone and that it can swiftly move to that level. 25,250 is seen as an immediate support for the index.

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