The Nifty opened flat and touched an intraday low of 24,932, but witnessed a sharp rebound from early lows and traded higher on Tuesday, supported by firm global cues and optimism surrounding the India–European Union trade deal.
The index ended the session at 25,175, registering a gain of 126.75 points or 0.51%. On the lower time frame, the formation of a positive RSI divergence indicates that the short-term bounce may continue in the upcoming sessions. Technically, a sustained move above 25,300 could push the index towards 25,430–25,500, while a break below 24,900 may lead to a decline towards the 24,850–24,800 zone.
The highest OI on the Call side is at the 25,500 and 26,000 strikes, indicating strong resistance at higher levels, while on the Put side, the maximum OI is at the 25,200 and 25,000 strikes.
The Sensex opened flat and witnessed selling pressure in the early trade, slipping to an intraday low of 81,088.59. However, the index rebounded from lower levels and closed higher by 319.78 points or 0.39%.
On the lower time frame, the index is showing a positive RSI divergence, indicating the possibility of a short-term recovery. If the Sensex moves decisively above 82,300, it could advance towards the 83,000–83,500 zone, while a break below 81,100 may lead to further downside towards 80,500–80,200 levels.
Nifty Metal witnessed a sharp rally in Tuesday’s session, closing at 11,829.65, up 351.85 points (+3.07%). The index has broken out of its consolidation range, indicating strong bullish momentum. RSI trading above 60 further confirms strength in the metal space.
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