India’s benchmark indices — Sensex and Nifty 50 — closed marginally lower on July 3, 2025, suggesting a pause in the recent rally as both indices face resistance near the upper Bollinger Band. Let’s decode what the charts are signaling for short-term traders and investors.
📉 Sensex Daily Chart Analysis (BSE: S&P BSE Sensex)
- Closing: 83,239.47 ▼ (-170.22 points | -0.20%)
- Resistance: 84,207 (Upper Bollinger Band)
- Support: 82,471 (Middle Bollinger Band / 20-day SMA)
🔍 Key Observations:
- Sensex formed a second consecutive red candle, indicating selling pressure near the 84,000–84,200 zone.
- The Bollinger Bands are beginning to contract, suggesting a possible volatility squeeze ahead.
- The index is still trading above its 20-day SMA (82,471), acting as crucial near-term support.
👉 If the index breaks below the 82,471 level, we may see a short-term correction toward 80,734, the lower Bollinger Band support.
📊 Nifty 50 Daily Chart Analysis (NSE: NIFTY)
- Closing: 25,405.30 ▼ (-48.10 points | -0.19%)
- Resistance: 25,698 (Upper Bollinger Band)
- Support Levels:
- Immediate: 25,142 (20-day SMA)
- Major: 24,586 (Lower Band), 23,224 (Horizontal Demand Zone)
🔍 Key Observations:
- Nifty formed a Bearish Harami-like pattern, hinting at exhaustion near recent highs.
- The index has slipped below the short-term trendline, signaling a potential reversal.
- Volume near resistance appears to be weakening, confirming caution from institutional players.
🧭 What Should Traders Watch?
- Bulls need a breakout above 25,700 (Nifty) and 84,200 (Sensex) for the uptrend to resume.
- Bears may dominate if the indices breach their respective 20-day SMAs.
- Volatility Alert: Keep an eye on the India VIX index and global macro signals.
📈 Conclusion
While both Nifty and Sensex remain in a broader uptrend, short-term consolidation or correction cannot be ruled out. Key support levels must hold to sustain the bullish structure. Traders should adopt a cautious approach with tight stop-losses.
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⚠️ Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Please consult a registered financial advisor before making any investment decisions. Markets are subject to risk.
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