Trade Setup for June 27: Nifty Eyes 25,200 as Key Resistance After Three-Day Rally
Nifty eyes 25,200 resistance after 3-day rally; Bank Nifty breakout targets 58,500. Support seen at 24,840–25,000. Traders stay bullish.
image for illustrative purpose
The Nifty 50 extended its winning streak to a third consecutive session, closing with strong gains and pushing key resistance levels higher. Analysts now see the benchmark approaching the 25,200 mark, which could act as a crucial level in the near term.
📊 Technical View
Resistance Level: The index faces immediate resistance at 25,200, a level seen as pivotal for confirming continued bullish momentum.
Support Zone: Nifty has established a firm support base between 24,840 and 25,000. This zone is considered ideal for accumulating long positions on any pullbacks.
According to technical experts, a sustained move above 25,200 could open the door for further gains toward the 25,700–25,900 range. Recent chart patterns suggest strength, with a bullish daily candle formation reinforcing a positive short-term outlook.
Sector Focus
Bank Nifty, which had been consolidating in the 53,500–56,000 range, has now broken out on the upside. The next potential target zone lies between 57,800 and 58,500.
Support for Bank Nifty is now identified around the 55,500–56,000 range.
Market Highlights (June 26)
Nifty 50 rose by 304.25 points, or 1.21%, to close at 25,549.
Sensex jumped by 1,000 points, also a 1.21% gain, ending the day at 83,756.
Among the top performers were Shriram Finance and Jio Financial Services. Financial stocks broadly led the gains, with Bank and Finance indices hitting record highs.
Rupee Movement
The Indian rupee appreciated by 39 paise, closing at ₹85.70 against the US dollar.
During the session, it moved between ₹85.92 and ₹85.66 — its strongest level since mid-June.
📌 Key Takeaways for Traders
A breakout above 25,200 may set the stage for an uptrend toward 25,700–25,900.
Pullbacks into the 24,840–25,000 zone could offer buying opportunities.
Bank Nifty’s breakout suggests potential upside to 58,500, with a strong base now between 55,500 and 56,000.
In summary, markets are showing sustained bullish momentum, with both broader indices and sectoral leaders participating in the rally. Traders are advised to watch key levels closely while looking for entry opportunities in case of intraday corrections.
