Trade Setup For June 25: Nifty's Key Support At 24,850, Resistance At 25,200

The stock markets witnessed notable volatility throughout the day on Monday after a gap-up opening.

The NSE Nifty 50 surged higher but faced stiff resistance near the 25,300 mark and closed at 25,044.35 with gains of 72.45 points. Technically, the formation of a bearish candle with multiple bearish divergences suggests caution ahead.

"For any upward momentum to sustain, a decisive move above today's high is crucial, while a breach below the 24,850 level could open the door for further downside," Aditya Gaggar, director of Progressive Share Brokers, said. "The key resistance and support levels stand at 25,200 and 24,850, respectively."

Going ahead, Bajaj Broking Research expects the index to maintain positive bias and retest the upper band of the last six weeks consolidation range 25,200 to 25,250 in the coming session.

"Immediate bias remains positive, above 24,700 to 24,800 levels being the confluence of the 20 days EMA and the last week low," Bajaj Broking Research said. "On the higher side, a decisive breakout above the upper band of the last six weeks consolidation range will pave the way for a further leg higher towards the 25,500 in the near term."