July 2, 2025
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Nifty & Nifty Bank Technical Analysis by Samco Securities for 3 July 2025
by Om Mehra, Technical Research Analyst, SAMCO Securities
Nifty takes a breather near key resistance; broader tone remains firm
Nifty ended the session at 25,517.05, down 0.47%, snapping its recent advance with a minor pause after a strong rally. The broader setup remains encouraging as Nifty comfortably holds above the 9-day and 20-day EMAs, both of which continue to slope upward, highlighting the strength of the prevailing trend.The index witnessed a mild pullback from the upper resistance zone near 25,660–25,685, aligning with the 161.8% Fibonacci retracement. Nifty 500 index settled flat at 23,617.20, reflecting that the broader market continues to hold ground despite frontline consolidation.
The daily RSI for Nifty has eased slightly to 63, remaining in a healthy zone, which suggests that momentum remains intact without any signs of exhaustion. The support is now seen at 25,350–25,300, a zone that previously acted as a breakout area and now stands as a re-entry level for fresh accumulation. Unless this level is breached decisively, any short-term pullback may provide a buying opportunity.
With the higher-high formations remains intact and no major breakdown signs, the outlook remains positive as we enter July series. A sustained move above 25,700 could reignite bullish momentum, with the next upside levels up to 25,900- 25,970.
Nifty Bank ended the session at 57,312.75, down 131.15 points or 0.23%, after inching higher for four consecutive sessions. The index faced resistance near the upper trendline of the broad consolidation pattern, coinciding with the upper Bollinger Band and the 57,600 zone, triggering mild profit booking toward the close.
The index is holding firmly above all the short and medium-term moving averages. It’s rise is offering support to the ongoing uptrend. The slope of the Bollinger Band has turned upward, suggesting expansion in price range and rising volatility.
The daily RSI stands at 66, hovering below the key 70 mark, reflecting a strong, yet not overheated momentum. Meanwhile, the MACD has entered positive territory, supported by an advancing histogram.
The index may see a shallow retracement toward the 57,000-56,800 zone, which is expected to act as immediate support. Any dip toward this zone is likely to attract fresh buying interest as long as the structure remains above 56,300 on a closing basis.
With the broader participation from PSU banks and a strong setup in momentum indicators, the bullish tone stays intact in Nifty Bank index. A decisive close above 57,620 could pave the way for a fresh leg towards higher level at 58,200 and beyond.
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Nifty & Nifty Bank Technical Analysis from Samco Securities
