Domestic equity markets witnessed a mixed performance on Tuesday, opening on a positive note but slipping into negative territory by the close. Benchmark indices such as the Nifty 50 and BSE Sensex saw initial gains, but selling pressure later in the day dragged them lower. While key technical indicators showed the Nifty holding above its long-term moving average, it remained below several short-term averages, reflecting ongoing weakness.
Market sentiment remained cautious ahead of the RBI’s upcoming policy review, leading to continued pressure across broader indices for the eighth straight session. Despite the weakness in the headline indices, the Bank Nifty managed to end the day in positive territory, supported by gains in banking stocks.
Among sectoral performers, PSU banks, metals, and auto stocks were the notable gainers, buoyed by investor interest in select segments. In contrast, media, consumer durables, and realty stocks dragged the market lower, with some individual names seeing notable declines. Global cues were mixed, with Asian markets showing a combination of gains and losses, while U.S. futures traded slightly lower during Indian market hours. Overall, the market reflected a cautious tone, marked by selective buying and underlying concerns around macroeconomic events.
In this overview, we will analyse the key technical levels and trend directions for Nifty and BSE Sensex to monitor in the upcoming trading sessions. All the charts mentioned below are based on the 5-minute timeframe.
Nifty 50
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
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The Nifty 50 Index opened on a positive note at 24,691.95 on Tuesday, up by 57.05 points from Monday’s closing of 24,634.90. With a bullish start to the day, the index had a volatile morning session, trading in the 24,550 to 24,750 range. Additionally, the Index stood below the EMAs of 50/100/200 but above the 20-period EMA in the 15-minute time frame during the morning session.
Further, the index lost its momentum and fell as low as the 24,588 mark, the day’s low in the afternoon session, and was traded below its opening level, between the range of 24,550 and 24,650. During the afternoon session, the Nifty 50 traded below all four EMAs of 20/50/100/200 in the 15-minute time frame. Nifty’s immediate resistance levels are R1 (24,734), R2 (24,904), and R3 (25,042), while immediate support levels are S1 (24,598), S2 (24,507), and S3 (24,402).
The Nifty index had reached a day’s high at 24,731.80 and saw a day’s low at 24,587.70. Finally, it had closed at 24,611.10, in red below the 24,650 level, losing 23.8 points, or 0.097%. The Nifty 50 closed above the EMA of 200 but below the 20/50/100 EMAs in the daily time frame.
Momentum Indicators
RSI (Daily): The Nifty 50’s RSI stood at 38.13, which is well below the overbought zone of 70 but near to the oversold zone, indicating a bearish sentiment.
Bollinger Bands (Daily): The index is trading in the lower band of its Bollinger Band range below the middle band (Simple Moving Average). Its position in the lower range indicates a bearish sentiment, along with strong resistance around the 24,650 level in Tuesday’s session. A sustained move above the middle band signals a bullish sentiment, while a drop back toward the lower band may reinforce bearish sentiment.
Volume Analysis: Tuesday’s trading session had above-average volumes, which stood at 303.04 Mn.
Derivatives Data: Options OI indicates strong Put writing at 24,600, following 24,500, establishing it as a firm support zone. On the upside, a significant Call OI buildup at 24,650 and 24,700 suggests a potential resistance supply. PCR (Put/Call Ratio) stands at 0.7982 (<1), leaning towards bullish sentiment and the Long Unwinding signals a Strong bearish signal, with an overall mixed outlook for the next trading session.
Bank Nifty
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
The Bank Nifty Index also started the session on a positive note at 54,705.50 on Tuesday, up by 244.5 points from Monday’s closing of 54,461.00. The index was trading between the range of 54,500 and 54,800 in the morning session, indicating high volatility. In addition, the index was trading below the EMAs of 100/200 but above the EMAs of 20/50 in the 15-minute time frame.
In the afternoon session, the Index lost its momentum and fell as low as the 54,538 level and was traded around the range of 54,500 and 54,700, ending in green. During the afternoon session, Bank Nifty closed below the EMAs of 100/200 but above the 20/50-period EMA in the 15-minute time frame. Bank Nifty immediate resistance levels are R1 (54,791), R2 (55,022), and R3 (55,275), while immediate support levels are S1 (54,385), S2 (54,080), and S3 (53,809).
The Bank Nifty index had peaked at 54,793.05 and made a day’s low at 54,502.95. Finally, it had closed in green at 54,635.85, closing above the 54,600 level, gaining 174.85 points or 0.32%. The Relative Strength Index (RSI) stood at 45.14 well below the overbought zone of 70 but near to the oversold zone in the daily time frame, and Bank Nifty closed above the EMA of 200 but below the 20/50/100 EMAs in the daily time frame.
Sensex
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
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The BSE Sensex Index also opened on a positive note at 80,541.77 on Tuesday, up by 176.83 points from Monday’s closing of 80,364.94. The index started its session on a bullish note and was trading in the 80,200 to 80,700 range throughout the morning session’s 15-minute time frame, below the EMAs of the 50/100/200 but above the 20-period EMA.
In the afternoon session, the Index traded in a range bound between 80,200 and 80,500, maintaining its overall bearish trend and closing below all four EMAs of 20/50/100/200 in the 15-minute time frame. BSE Sensex immediate resistance levels are R1 (80,672), R2 (81,408), and R3 (82,031), while immediate support levels are S1 (80,212), S2 (79,755), and S3 (79,362).
The BSE Sensex index had peaked at 80,677.82 and made a day’s low at 80,201.15. Finally, it had closed at 80,267.62 in red, losing 97.32 points or 0.12%. The Relative Strength Index (RSI) stood at 37.57 (below the overbought zone of 70 but near to the oversold zone in the daily time frame), and the BSE Sensex closed below all four EMAs of 20/50/100/200 in the daily time frame.
India VIX
The India VIX decreased by 0.30 points or 2.64%, from 11.36 to 11.06 during Tuesday’s session. A decrease in the India VIX typically indicates lower price volatility in the stock market, suggesting a more stable market environment. However, a stable market environment and minimal volatility are anticipated when the India vix is below 15.
Market Recap on the 30th of September 2025
On Tuesday, the Nifty 50 opened on a mildly positive note at 24,691.95, rising 57.05 points from its previous close of 24,634.9. During the session, it touched an intraday low of 24,587.7 before settling below the 24,650 mark at 24,611.1, registering a loss of -23.8 points or -0.097%. Technically, the index managed to stay above the 200-day EMA on the daily chart but remained below the 20-day, 50-day, and 100-day EMAs. The BSE Sensex mirrored a similar movement, opening higher at 80,541.77, up 176.83 points from its previous close of 80,364.94.
It followed a comparable pattern to the Nifty 50 and closed below the 80,300 level at 80,267.62, recording a drop of -97.32 points or -0.12%. Momentum indicators reflected moderate strength, with the RSI for Nifty 50 at 38.13 and for Sensex at 37.57, both well below the overbought threshold of 70 and approaching the oversold territory.
However, the Bank Nifty Index ended the session in positive territory, gaining 174.85 points or 0.32%, to close at 54,635.85. Broader indices declined for the eighth consecutive session as investors stayed cautious ahead of the RBI’s bi-monthly policy review scheduled for October 1.
Among sectoral indices, the Nifty PSU Index emerged as the top gainer, closing at 7,526.75, up 136 points or 1.8%. Leading the rally were major PSU banking stocks such as Bank of India, Indian Bank, Central Bank of India, and Punjab National Bank, which advanced up to 3.9%.
The Nifty Metal Index followed, rising 115.05 points or 1.2%, to close at 10,038.15. National Aluminium Company led the pack with a 4.9% surge, followed by gains of up to 3.5% in Hindustan Zinc Ltd, Hindustan Copper Ltd, and Vedanta Ltd. The Nifty Auto Index also closed higher at 26,542.35, up 105.8 points or 0.4%.
On the downside, the Nifty Media Index was the worst performer, closing at 1,542.95, down -19.15 points or -1.23%. Nazara Technologies plunged -4.3%, while other media stocks such as PVR Inox Ltd, Tips Music Ltd, and Dish TV India Ltd declined by up to -2.3%.
The Nifty Consumer Durables Index also witnessed a fall, shedding -327.35 points or -0.87%, to end at 37,114.5. Stocks like Dixon Technologies (India) Ltd, Amber Enterprises India Ltd, and Voltas Ltd declined by as much as -2.13%. The Nifty Realty Index, too, ended lower by -7.15 points or -0.82%, closing at 867.60.
In the broader Asian markets, trends remained mixed on Tuesday. Hong Kong’s Hang Seng Index gained 248.12 points or 0.92%, to close at 26,871. Similarly, China’s Shanghai Composite Index rose by 20.25 points or 0.52%, closing at 3,882.78.
Conversely, South Korea’s KOSPI Index declined -6.61 points or -0.19% to settle at 3,424.60. Japan’s Nikkei 225 Index also slipped -60.75 points or -0.14%, ending the session at 44,983. As of 4:32 p.m. IST, US Dow Jones Futures were trading at 46,236.67, down -79.4 points or -0.17%.
Trade Setup Summary
The Nifty 50 opened on a positive note at 24,691.95 on Tuesday but ended the session in the red below the 24,650 level at 24,611.10. A break below 24,598 could trigger further selling towards 24,507 while breaking the next resistance level of 24,734 could trigger bullishness towards the 24,904 level.
Bank Nifty started the session on a positive note at 54,705.50 and ended the session in the green at 54,635.85, above the 54,600 level. A break below 54,385 could trigger further selling towards 54,080, while breaking the next resistance level of 54,791 could trigger bullishness towards the 55,022 level.
Sensex also opened on a positive note at 80,541.77 but ended the session in the red at 80,267.62, below the 80,300 level. A break below 80,212 could trigger further selling towards 79,755, while breaking the next resistance level of 80,672 could lead towards the 81,408 level.
Given the ongoing volatility and mixed sentiments, it’s advisable to avoid aggressive positions and wait for clear directional moves above resistance or below support. Traders should consider these key support and resistance levels when entering long or short positions following the price break from these critical levels. Additionally, traders can combine moving averages to identify more accurate entry and exit points.
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