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Bulls came back sharply on Wednesday – Nagaraj

by Mr. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
🕗 Last Updated:  24 June 2026, 8.00 PM

Technical Analysis of the Market by Nagaraj Shetti

Analysis for 25 June 2026

Bulls came back sharply on Wednesday after a steep fall on Tuesday and Nifty closed the day higher by 197 points. After opening lower, the market witnessed an excellent upmove in the early to mid-part of the session. However, there was a minor consolidation towards the end and Nifty closed near the highs.

A long bull candle was formed on the daily chart on Wednesday that has overlapped the long bear candle of previous session on the upside. Technically, this market action indicates an excellent comeback of bulls after one session of correction. This is positive indication.

The crucial support of previous opening upside gap of 15th June has acted as a reversal for the Nifty to bounce back. Frome here, Nifty could challenge its immediate resistance of around 24150-24200 levels and is likely to advance towards 24500-24600 levels in the near-term. Immediate support is placed at 23800.

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Stock recommendations by Nagaraj Shetti

Who is Nagaraj Shetti?

Stock Recommendations by Nagaraj Shetti (HDFC Securities)
Senior Technical Analyst Nagaraj Shetti has identified a select group of stocks showing strong chart setups and momentum for short-term traders.
According to him, the near-term market structure remains supportive for selective long positions, especially in scrips showing breakouts above key resistance levels and higher-high formations on the daily chart.
Shetti recommends traders focus on stocks with rising volumes and bullish crossover patterns on the short- and medium-term moving averages.
He advises maintaining strict stop-loss levels and booking partial profits near resistance bands.
These recommendations are part of his latest weekly outlook published in Chanakya Ni Pothi, providing guidance on potential outperformers for the coming sessions.