H-1B Visa Fee Hike Shock: Game-Changer For Nifty Or Just A Blip? Key Levels And Stock Of The Day

On Friday, the Nifty 50 index ended its three-day run, closing 0.38 per cent lower and below the low of the prior hanging-man-like candlestick pattern. Despite this negative close, the index still extended its weekly winning streak to a third straight week, supported by gains in three out of the five trading sessions.

For Monday, market sentiments are likely to remain conflicted. On one hand, optimism over the implementation of GST reforms. On the other, concerns about the hike in H-1B visa fees may trigger a knee-jerk reaction in IT stocks.

That said, the broader structure of the index remains bullish as it continues to trade comfortably above all key moving averages – 20, 50, 100 and 200 DMA. In addition, the index witnessed follow-through buying after breaking out of the neckline of the double bottom pattern. Any knee-jerk reaction caused by H-1B visa-related headlines could therefore present an opportunity to buy on dips.

Strong support for the index is placed in the 25,150-25,261 zone, as this coincides with both the opening upside gap area of September 17 and the neckline of the double bottom pattern. As long as the index holds above this zone, buying on dips should remain the preferred strategy for active market participants.

On the upside, immediate resistance is seen at 25,380, followed by a major hurdle at 25,550. This level represents a key trendline resistance drawn by adjoining the all-time high of September 2024 and the swing high of June 2025. A closer look at the weekly chart shows the Nifty remains trapped within a broad symmetrical triangle-like pattern. Prices are now approaching the apex of this formation, and a breakout could lead to a retest of the all-time highs last seen in September 2024.

Over the next couple of days, the index may consolidate within the broad 25,150-25,550 range. A decisive close above 25,550 would mark a breakout from the symmetrical triangle pattern and could set the stage for a fresh rally.

Technically, the stock witnessed a sharp rally of over 6 per cent on September 16, 2025, breaking out of a three-month-long rectangle pattern. Interestingly, this breakout was accompanied by a robust volume of more than five times the 10-day average volume of 4.21 lakh shares per day, highlighting larger participation in the direction of the trend.

Since then, the stock has been seen consolidating with volume drying up, a usual pattern observed after a strong rally in the stock. It’s like the stock is pausing to consolidate energy before the next leg up.The stock continues to trade above its key moving average, the 20, 50 and 200 DMA, which validates the positive bias.

Momentum indicators also support the bullish step-up. The 14-period daily RSI is in the bullish zone, while the daily MACD remainsin a strong uptrend and is seen diverging from its nine-period average.

Considering these factors, the stock has the potential to test levels of Rs 1,118 to 1,135 on the upside in the short term. However, the bullish bias would be negated on close below the level of Rs 995.

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