Nifty closed Thursday’s monthly expiry session with a gain of approximately 100 points, reaching a fresh record high. The intraday rebound from the 25,000 mark indicates strong support at this level.
With today’s robust finish, prices have broken past the previous swing high, confirming a "Saucer" formation and suggesting potential for further upside. As long as Nifty holds above 25,000, the positive trend should continue. However, if it breaks below this support, weakness could emerge, potentially driving the index down to 24,850 or lower, according to Rajesh Bhosale, Equity Technical Analyst at Angel One.
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