Sumeet Bagadia’s Breakout stocks

Indian equities ended sharply lower on Friday, slipping nearly 1% amid escalating geopolitical tensions and a sharp surge in crude oil prices. The Sensex declined 961 points (1.17%) to close at 81,287, while the Nifty 50 dropped 318 points (1.25%) to settle at 25,178.

Nifty 50 Outlook

The benchmark index witnessed sustained selling pressure throughout the session. After opening with a mild gap-down, the index gradually drifted lower toward the 25,300 zone and entered a brief consolidation phase. However, in the final half hour of trade, aggressive selling resurfaced, dragging the index to an intraday low near 25,141 before closing near day’s lows — a sign of strong bearish sentiment and late-session profit booking.

On the daily chart, Nifty has now formed four consecutive red candles and has slipped below its 200-day EMA, indicating a weakening medium-term structure and a shift toward a cautious-to-bearish undertone.

Technically, immediate resistance is placed in the 25,300–25,350 zone. A decisive move above this band is required to regain bullish momentum. On the downside, the 25,000–25,050 region remains a critical support cluster.

In the derivatives segment, notable put writing has emerged at the 25,000 strike, while aggressive call writing is visible at 25,400 — suggesting a defined near-term trading band. Traders should remain cautious near key supports and avoid aggressive positioning until a clear breakout above resistance levels is confirmed.

Bank Nifty Outlook

Bank Nifty also opened weak and extended losses through the session. The index formed an intraday high near 61,086 before witnessing sharp selling pressure, which dragged it to a low of 60,438. The index finally closed at 60,529, down 658 points, reflecting broad-based weakness across banking counters.

Technically, immediate resistance is seen in the 60,800–60,900 zone, while the 60,200–60,300 range remains a crucial support area. A sustained breach below this support could trigger further downside pressure.

The daily RSI is hovering near neutral territory but with a mild bearish bias, indicating the absence of strong buying conviction. Traders are advised to remain cautious and wait for a decisive move above resistance zones before initiating fresh directional trades.