On Friday, the Indian equity markets witnessed a mild correction after a recent rally, with benchmark indices closing in the red. The mood turned cautious as investors opted to book profits at higher levels, especially in heavyweight banking and consumer durables stocks. Despite the dip, the broader trend remained largely intact, with the Nifty 50 holding above key moving averages, indicating underlying strength in the medium term. Market participants appeared to step carefully ahead of key global cues and upcoming domestic policy signals, keeping overall sentiment mixed to moderately bullish.
Among sectoral performers, PSU banks and energy stocks stood out, buoyed by positive regulatory developments and strong buying interest. The Adani Group stocks rallied sharply after receiving a clean chit from the market regulator, boosting investor confidence in the energy and infrastructure segments.
On the other hand, private banks dragged the indices lower, weighed down by selling in major players like ICICI and HDFC Bank. Globally, weak cues from major Asian markets and mild signals from US futures contributed to the day’s subdued tone, though the broader weekly trend remained positive.
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 negative note at 25,410.20 on Friday, down by 13.4 points from Thursday’s closing of 25,423.60. With a bearish start to the day, the index fell as low as the 25,286 mark, reaching its day low in the morning session and trading below its opening level at 25,305. Additionally, the Index stood above the EMAs of 100/200 but remained below the 20/50 EMA in the 15-minute time frame during the morning session and was traded between 25,286 and 25,429.
The index in the afternoon session recovered from the day’s low and held above the 25,300 level, trading in red. Overall, the index ended in a bearish state on the Friday session. During the afternoon session, the Nifty 50 was traded above all four EMAs of 20/50/100/200 in the 15-minute time frame. Nifty’s immediate resistance levels are R1 (25,360), R2 (25,436), and R3 (25,491), while immediate support levels are S1 (25,287), S2 (25,233), and S3 (25,187).
The Nifty index had reached a day’s high at 25,428.75 and saw a day’s low at 25,286.30. Finally, it had closed at 25,327.05, in red below the 25,350 level, losing 96.55 points, or 0.38%. The Nifty 50 closed above all four EMAs of 20/50/100/200 EMAs in the daily time frame.
Momentum Indicators
RSI (Daily): The Nifty 50’s RSI stood at 63.71, which is well below the overbought zone of 70, indicating a bullish sentiment.
Bollinger Bands (Daily): The index is trading in the upper band of its Bollinger Band range above the middle band (Simple Moving Average). Its position in the upper range, along with solid support around the 25,330 level in Friday’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: Friday’s trading session had above-average volumes, which stood at 380.36 Mn.
Derivatives Data: Options OI indicates strong Put writing at 25,300, following 25,200, establishing it as a firm support zone. On the upside, a significant Call OI buildup at 25,400 and 25,500 suggests a potential resistance supply. PCR (Put/Call Ratio) stands at 0.8243 (<1), leaning towards bullish sentiment and the long Buildup signals a positive momentum, with an overall bullish 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 started the session on a negative note at 55,647.95 on Friday, down by 79.5 points from Thursday’s closing of 55,727.45. The index started the day on a gap-down and dragged down to the 55,362 level and was trading below its opening level of 55,387. In addition, the index was trading between the 55,350 and 55,700 levels in the morning session and was above the EMAs of 100/200 but remained below the 20/50 EMAs in the 15-minute time frame.
In the afternoon session, the Index rebounded from the day’s low and traded at 55,494, trading in red. During the afternoon session, Bank Nifty closed above all four EMAs of 20/50/100/200 in the 15-minute time frame. Bank Nifty immediate resistance levels are R1 (55,534), R2 (55,836), and R3 (56,154), while immediate support levels are S1 (55,360), S2 (55,166), and S3 (54,954).
The Bank Nifty index had peaked at 55,688.75 and made a day’s low at 55,355.30. Finally, it had closed in red at 55,458.85, traded below the 55,500 level, losing 268.60 points or 0.48%. The Relative Strength Index (RSI) stood at 57.56 well below the overbought zone of 70 in the daily time frame, and Bank Nifty closed above all four EMAs of 20/50/100/200 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 opened on a negative note at 82,946.04 on Friday, down by 67.92 points from Thursday’s closing of 83,013.96. The Index reached its day low at 82,486 after a bearish start to the morning session. Additionally, the Index was trading below its opening level at 82,567. The Index was trading between 82,486 and 82,979 throughout the morning session’s 15-minute time frame, above the 100/200 EMAs but below the 20/50 EMAs.
In the afternoon session, the Index rebounded and recovered from day low was trading above the 82,600 level, maintaining its overall bearish trend and trading above all four EMAs of 20/50/100/200 in the 15-minute time frame. BSE Sensex immediate resistance levels are R1 (82,738), R2 (83,077), and R3 (83,381), while immediate support levels are S1 (82,492), S2 (82,249), and S3 (81,993).
The BSE Sensex index had peaked at 82,978.63 and made a day’s low at 82,485.92. Finally, it had closed at 82,626.23 in red, losing 387.73 points or 0.47%. The Relative Strength Index (RSI) stood at 62.36 (below the overbought zone of 70) in the daily time frame, and the BSE Sensex closed above all four EMAs of 20/50/100/200 in the daily time frame.
India VIX
The India VIX increased by 0.082 points or 0.83%, from 9.88 to 9.97 during Friday’s session. An increase in the India VIX typically indicates higher price volatility in the stock market, suggesting a less stable market environment. However, a stable market environment and minimal volatility are anticipated when the India vix is below 15.
Market Recap on the 19th of September 2025
On Friday, the Nifty 50 opened on a weak note at 25,410.2, down -13.4 points from its previous close of 25,423.6. It touched an intraday high of 25,428.75 before settling at 25,327.05, marking a decline of -96.55 points or -0.38%. From a technical perspective, the index continued to trade above its key 20/50/100/200-day EMAs on the daily chart. The BSE Sensex mirrored this negative sentiment, opening at 82,946.04, a drop of -67.92 points from its prior close of 83,013.96.
It moved within a similar range to the Nifty 50 before ending the session at 82,626.23, down -387.73 points or -0.47%. Momentum indicators showed moderate strength, with the Relative Strength Index (RSI) at 63.71 for the Nifty 50 and 62.36 for the Sensex, both below the overbought level of 70. The Bank Nifty Index also ended in negative territory, falling by -268.6 points or -0.48%, to close at 55,458.85.
On Friday, the rally was led by the Nifty PSU Bank Index, which jumped 93.75 points or 1.3%, to end at 7,397.75. Union Bank of India gained 2.7%, while other PSU banks like UCO Bank, Canara Bank, and Indian Overseas Bank rose up to 2.4%. The Nifty Energy Index also posted strong gains, adding 303.65 points or 0.9%, to close at 35,745.75.
Key contributors included Adani Power Ltd, Adani Total Gas Ltd, and Adani Green Energy Ltd, which surged up to 12.4% after market regulator SEBI gave a clean chit to the Adani Group and its founder Gautam Adani in a stock manipulation case. The Nifty India Defence Index saw moderate gains, rising 46.65 points or 0.6%, to settle at 8,318.3.
On the flip side, the Nifty Private Bank Index was the biggest drag, closing at 26,972.4, down -175.6 points or -0.7%. Among key laggards, ICICI Bank Ltd slipped -1.4%, while Kotak Mahindra Bank Ltd and HDFC Bank Ltd dropped up to -1.2%. The Nifty Consumer Durables Index also ended lower, losing -258.85 points or -0.7%, to close at 39,342. Notable losers included Cera Sanitaryware Ltd, Titan Company Ltd, Kajaria Ceramics Ltd, and Crompton Greaves Consumer, which declined up to -1.3%.
Asian markets mostly closed in the red on Friday. China’s Shanghai Composite Index edged down by -11.56 points or -0.3%, to close at 3,820.08. In contrast, Hong Kong’s Hang Seng Index ended marginally higher, up 0.25 points at 26,545.1. South Korea’s KOSPI Index dropped -16.06 points or -0.46%, to settle at 3,445.24, while Japan’s Nikkei 225 Index fell -257.62 points or -0.57%, to close at 45,045.81.
As of 4:50 p.m. IST, US Dow Jones Futures were trading slightly lower at 46,494, down -22 points or -0.045%. Despite Friday’s pullback, the Nifty 50 posted a weekly gain of 0.85%, or 213.6 points, closing firmly above the 25,300 level.
Trade Setup Summary
The Nifty 50 opened on a negative note at 25,410.20 on Friday and ended the session in the red below the 25,350 level at 25,327.05. A break below 25,287 could trigger further selling towards 25,233, while breaking the next resistance level of 25,360 could trigger bullishness towards the 25,436 level.
Bank Nifty started the session on a negative note at 55,647.95 and ended the session in the red at 55,458.85, below the 55,500 level. A break below 55,360 could trigger further selling towards 55,166, while breaking the next resistance level of 55,534 could trigger bullishness towards the 55,836 level.
Sensex also opened on a negative note at 82,946.04 and ended the session in the red at 82,626.23, below the 82,700 level. A break below 82,492 could trigger further selling towards 82,249, while breaking the next resistance level of 82,738 could lead towards the 83,077 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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