The market reacted positively overall. The Nifty 50 opened higher and maintained its upward momentum throughout the day, closing with gains. It also traded above key moving averages, indicating strong technical support. Major indices like the Nifty Services, Financial Services, and Auto sectors were among the top performers, buoyed by gains in key stocks.
On the other hand, the Realty and Media indices saw declines due to selling pressure in heavyweight stocks within those sectors. Asian markets also reflected bullish sentiment, influenced by a trade announcement from the U.S., with most regional indices closing higher. U.S. market sentiment appeared optimistic as well, with futures trading in the green.
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 started the session with a gap up at 25,139.35 on Wednesday, up by 78.45 points from Tuesday’s closing of 25,060.90. The Nifty Index was volatile and surged upwards. It was trading in the range of 25,100 to 25,200 levels in the morning session. It was trading above its opening level at 25,172 and was above all four 20/50/100/200 EMAs in the 15-minute time frame. The Index hit the day’s low at 25,085.50 in the morning session.
In the afternoon session, the Nifty Index further broke above the 25,200 level and made the day’s high at 25,233.50. During the afternoon session, it closed above all four EMAs of 20/50/100/200 EMAs in the 15-minute time frame. Nifty’s immediate resistance levels are R1 (25,234), R2 (25,317), and R3 (25,411), while immediate support levels are S1 (25,122), S2 (25,051), and S3 (24,938).
The Nifty index had reached a day’s high at 25,233.50, closed in green above the 25,200 level, and saw a day’s low at 25,085.50. Finally, it had closed above the opening level and near the day’s high at 25,219.90, gaining +159 points or 0.63%. The Relative Strength Index (RSI) stood at 52.29 (below the overbought zone of 70) in the daily time frame, and Nifty 50 closed above all four 20/50/100/200 EMAs in the daily time frame.
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 Nifty Bank Index started the session on a positive note at 56,918.15 on Wednesday, up by +162.15 points from Tuesday’s closing of 56,756.00. In the morning session, the index surged upward by +114.95 points. It was trading between the range of 56,700 to 57,100 levels, broke above the 57,000 level and was above all four 20/50/100/200 EMAs in the 15-minute time frame and made the day’s low at 56,715.80 in the morning session.
In the afternoon session, the Bank Nifty further moved in a bullish trend and broke above the 57,200 level and made the day’s high at 57,249.00. During the afternoon session, it closed above all four 20/50/100/200 EMAs in a 15-minute time frame. Bank Nifty immediate resistance levels are R1 (57,285) and R2 (57,530), while immediate support levels are S1 (56,873), S2 (56,635), and S3 (56,256).
The Bank Nifty index had peaked at 57,249.00 and made a day’s low at 56,715.80. Finally, it had closed in green at 57,204.95, gaining +448.95 points or 0.79%. The Relative Strength Index (RSI) stood at 56.70 (below the overbought zone of 70) in the daily time frame, and Bank Nifty was above all four 20/50/100/200 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 followed a similar trend as the Nifty 50, opening on a positive note at 82,451.87 on Wednesday, up by +265.06 points from Tuesday’s closing of 82,186.81. The Index started on a gap-up note and surged by +132.68 points in the morning session. The Index was traded in the range of 82,250 to 82,650 levels. It was trading above the opening level at 82,585 and was trading above all four 20/50/100/200 EMAs in the 15-minute time frame and made a day’s low at 82,279.73 in the morning session.
In the afternoon session, the Sensex Index rallied further and broke above the 82,600 level and made the day’s high at 82,786.43. During the afternoon session, it traded above all four 20/50/100/200 EMAs in the 15-minute time frame. BSE Sensex immediate resistance levels are R1 (82,783), R2 (83,036), and R3 (83,352), while immediate support levels are S1 (82,539), S2 (82,158), and S3 (81,682).
The BSE Sensex index had peaked at 82,786.43 and made a day’s low at 82,279.73. Finally, it had closed at 82,726.64, up by +539.83 points or 0.66%. The Relative Strength Index (RSI) stood at 52.46 (below the overbought zone of 70) in the daily time frame, and the BSE Sensex was above all four 20/50/100/200 EMAs in the daily time frame.
India VIX
On Wednesday’s session, the India VIX decreased from 10.75 to 10.52, down by -0.24 points or -2.21%. The decrease in the VIX index shows a calm market and an expectation of lower price fluctuations in the near future.
Market Recap 23rd July 2025
The Nifty 50 began Wednesday on a positive note, opening at 25,139.35, up by 78.45 points from the previous day’s close of 25,060.90. Throughout the session, the index added 159.00 points, or 0.63%, reaching a day-high of 25,233.50 in the morning and ending the day at 25,219.90. The Relative Strength Index (RSI) stood at 52.29, far below the overbought threshold of 70. On the daily chart, the index closed above its 20/50/100/200-day exponential moving averages (EMAs). Meanwhile, the Sensex wrapped up the day at 82,726.64, gaining 539.83 points or 0.66%, with an RSI of 52.46.
Several key sectoral indices closed in the green. The Nifty Services Sector Index rose by 288.05 points, or 0.87%, to settle at 33,481.55. Major contributors to the rally included Max Healthcare Ltd., LTIMindtree, Shriram Finance, and Bharti Airtel, registering gains of up to 3.00%. Likewise, the Nifty Financial Services Index closed at 27,215.85, up by 225.40 points or 0.84%.
This upward movement was supported by notable gains in ICICI Bank Ltd. (up 2.78%), HDFC Bank Ltd. (up 2.23%), and ICICI Lombard General Insurance (up 2.01%). The Nifty Auto Index also stood out, closing at 24,079.40 after rising 203.55 points, or 0.85%, with key contributions from Tata Motors, Samvardhana Motherson International, and Bharat Forge, all of which grew more than 1.60%.
On the downside, the Nifty Realty Index declined by 25.85 points, or -2.60%, to close at 970.20. This drop was largely driven by losses in heavyweights like Lodha Developers Ltd., Brigade Enterprises, Oberoi Realty, and Prestige Estates Projects Ltd., falling over 2.2%. The Nifty Media Index also saw a dip, ending at 1,717.30 after shedding 16.30 points or -0.9%.
Asian markets reflected a broadly bullish sentiment on Wednesday following U.S. President Donald Trump’s announcement of a “massive Deal” with Japan, which involved a 15% tariff on Japanese exports to the United States. Hong Kong’s Hang Seng Index surged 408.04 points, or 1.60%, to 25,538.07. South Korea’s Kospi rose by 13.83 points, or 0.43%, to close at 3,183.77.
Japan’s Nikkei 225 experienced a substantial gain of 1,396.40 points, or 3.39%, closing at 41,171.32. Meanwhile, China’s Shanghai Composite Index remained flat, edging up slightly by 0.44 points, or 0.01%, to 3,582.30. As of 5:00 p.m., Dow Jones Futures were trading higher by 215.40 points, or 0.48%, at 44,715.85 on the U.S. stock exchange.
Trade Setup Summary
The Nifty 50 opened on a positive note on Wednesday and was volatile in the morning session. The Index was bullish throughout the session and closed at 25,219.90 in green above the 25,200 level. A break below 25,122 could trigger further selling towards 25,051, while a break above 25,234 could trigger bullishness towards 25,317.
Bank Nifty started the session on a positive note at 56,918.15 and closed at 57,204.95, breaking above the 57,200 level. A break below 56,873 could trigger further selling towards 56,635, while a break above 57,285 could trigger bullishness towards 57,530. Sensex opened on a similar trend, opening on a positive note at 82,451.87 and closing at 82,726.64 in the green. A break below 82,539 could trigger further selling towards 82,158, while breaking the next resistance level of 82,783 could lead towards the 83,036 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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