Stock Market Today: Can Nifty50 Break 25,230? Key Levels to Watch Before You Trade

Indian equity benchmarks closed higher on July 21, buoyed by strong earnings and technical rebounds. The Sensex rose 442.61 points or 0.54% to 82,200.34, while the Nifty 50 gained 122.30 points or 0.49% to end at 25,090.70—just shy of the psychologically significant 25,100 mark.

According to Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research (Equity) at SBI Securities: “The benchmark Nifty index found support near the crucial demand zone of 24,900–24,870, which aligns with the confluence of the 50-day EMA and the 61.8% Fibonacci retracement of its recent upswing from 24,473 to 25,669. Post this technical cushion, the index staged a sharp recovery and closed the session on a positive note.”

Nifty Prediction: Key Levels to Watch
Shah notes that the 24,980–24,950 zone will now act as immediate support. On the upside, the 25,200–25,230 zone is a crucial resistance. A sustained move above 25,230 may trigger a fresh rally toward 25,350.

Bank Nifty Outlook: Bulls in Control
Bank Nifty outperformed with a 1.19% gain, driven by index heavyweights ICICI Bank and HDFC Bank. Shah observes:
“Going ahead, the zone of 56,600–56,500 will act as immediate support, while 57,100–57,200 is a critical hurdle. A sustained breakout above 57,200 could extend the rally to 57,600.”

Sensex Technicals: Bullish Rebound in Play
The Sensex formed a bullish candle with a lower shadow and managed to close above its 50-day EMA.
Resistance: 82,500–82,600
Support: 81,800–81,700

Key sectors to Watch Today 
Sectors likely to outperform in the near term:
Nifty Automobile
Capital Market
Financial Services
Metal
Realty
India Tourism

Likely underperformers:
Nifty Oil & Gas
IT

Read More -Earnings Today: Over 50 Companies to Watch on Dalal Street

FII-DII Activity: Domestic Support Continues
On July 21:
FIIs sold equities worth Rs 1,681.23 crore
DIIs bought equities worth Rs 3,578.43 crore

Despite foreign investor selling, domestic institutional buying provided a strong cushion, aiding market recovery.

 

The market outlook remains cautiously optimistic. Traders should watch for Nifty’s move above 25,230 and Bank Nifty’s breach of 57,200 for further bullish confirmation. Sector rotation and strong DII support are likely to steer momentum in the sessions ahead.

Disclaimer

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