Analysts said a drop below 25,000 may see support at 24,800 and 24,500.

Indian shares traded in a narrow range on Thursday as weekly futures and options expiry kept volatility elevated. 

At 9:27 a.m. IST, the Nifty 50 had risen 345 points to 25,176, while the Sensex was up 76 points to 82,591.

Broader markets were mixed, with the Nifty Midcap index up 0.02% and the Smallcap index dipping 0.04%. 

The Nifty MidSmall IT & Telecom index led sectoral gains, rising 0.4%, followed by Media, FMCG, and Oil & Gas indices, while IT and MidSmall Financial Services posted mild losses.

Analysts expect the Nifty 50 to stay range-bound between 25,000 and 25,200 until a strong breakout or breakdown occurs, which could trigger a move toward 25,750 on the upside or 24,800 on the downside.

The retail sentiment on Stocktwits remained ‘bearish’. 

Sterlite Technologies surged 9.8% after securing a ₹2,631 crore BSNL project in Jammu & Kashmir and Ladakh via its Global Services Business in partnership with Dilip Buildcon.

Zydus Lifesciences rose 1.1% after the US FDA issued an Establishment Inspection Report for its Ankleshwar API plant.

Hindustan Copper gained 0.9% as the company announced a ₹2,000 crore investment plan over the next 5–6 years.

Maruti Suzuki edged up 0.3% after NCLT approved the first motion for merging Suzuki Motor Gujarat with the parent entity.

Nazara Technologies inched up 0.1% after its Independent Directors found the ongoing open offer "fair and reasonable."

From a technical standpoint, SEBI-registered analysts on Stocktwits shared the trade setup.

Prabhat Mittal pegged immediate support for the Nifty at 25,000 and resistance at 25,250–25,280, while he placed Bank Nifty support at 56,000 and resistance at 56,800.

Ashish Kyal sees Nifty trading in a range, suggesting that dips toward 25,080 can be used for buying with targets around 25,200, while 24,980 should be a strong support.

He recommended using a bull call spread strategy over naked calls in the current setup.

Globally, Asian markets traded lower after US President Donald Trump signaled plans to set unilateral tariff rates within weeks, ahead of a July 9 deadline to reimpose higher duties on multiple economies.

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