Trade Setup For July 15: Nifty Support Slips To 25,000 As Markets Decline For Fourth Day In Row

The NSE Nifty 50, which extended losses to a fourth session, finds crucial support around 25,000, below which selling pressure is likely to accelerate, according to analysts.

The Nifty formed a bear candle with a long lower shadow around the psychological 25,000 levels, according to Bajaj Broking Research. "We see the current decline as a buying opportunity. However, if Nifty breaks below 24,900, it may temporarily halt the short-term uptrend," it said.

On technical levels, the Nifty is now hovering around a crucial support zone at 25,000, according to Sundar Kewat, technical and derivatives analyst from Ashika Institutional Equity.

Kewat added that 25,000 is a level that holds both psychological and technical significance. "A decisive breach below this could trigger further downside."

"We believe that the market has completed one leg of correction, and the 50-day SMA (simple moving average) at 25,000 is likely to act as a key support zone for traders," Shrikant Chouhan, head of equity research at Kotak Securities, said.

Above this level, a technical bounce back up to the 20-day SMA or approximately 25,250–25,300 can be expected. On the flip side, below the 50-day SMA or 25,000, selling pressure is likely to accelerate, Chouhan said. "In that scenario, the market could see levels around 24,850–24,800."

The Bank Nifty formed a doji candle with long shadows in either direction, signalling consolidation amid stock-specific action, according to Bajaj Broking.

The index finds key support at 56,000–55,500 and is seen consolidating in the range 56,400–57,600, it added.

The NSE Nifty 50 ended 67.55 points or 0.27% lower at 25,082.3, while the BSE Sensex closed 247.01 points or 0.3% down at 82,253.46. Intraday, the Nifty and Sensex slipped 0.6%.

The Indian Rupee closed weaker against the US Dollar on Monday, ending the session at Rs 85.99—down 19 paise from Friday’s closing rate of Rs 85.80.