Nifty 50 closed marginally higher at 25,103.20 on Monday, failing to hold early gains as the market turned rangebound.
India’s benchmark Nifty 50 index closed 0.40% higher at 25,103.20 on Monday, rising over 150 points in early trade but losing momentum as the market drifted into a narrow range around the 25,100 mark.
SEBI-registered analyst Mayank Singh Chandel said the index opened strong but failed to sustain early gains, forming a small-bodied candle with wicks on both ends—a sign of indecision near a key resistance zone.
He noted that the session largely favoured option sellers, with the 25,100 straddle losing nearly 25% of its value, a classic case of premium decay in a directionless market.
According to Chandel, Nifty’s ability to hold above the 25,000 psychological level signals underlying strength, but a follow-through above 25,200 is required to confirm a breakout.
He identified 24,950–25,000 as immediate support, with stronger levels at 24,800 and 24,500.
Resistance is seen at 25,200 and 25,500.
He flagged 25,100 as the most active strike in both call and put writing, calling it a pivot point for the next session.
Meanwhile, Bharat Sharma of Stockace Financial Services said the market traded sideways around 25,100 throughout the day, with few clear trading opportunities.
He noted that option premiums remained moderate, making it difficult to predict a sharp move.
Sharma says the short-term bias remains positive as the price has not crossed the 20-EMA on the 15-minute chart.
He identified an immediate support range between 25,080 and 25,090, while warning that a breach would lead to declines toward 25,030, followed by 24,960 and then 24,880.
He expects resistance between the levels of 25,130 and 25,140, but if it breaks through those levels, he sees the index reaching between 25,200 and 25,300.
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