Trade Setup For June 11: Nifty's Key Support Level At 25,000

The NSE Nifty 50 index ended marginally higher at 25,104.25 on Tuesday, managing a tiny gain of 1.05 points, reflecting a day of muted trading action amid a range-bound consolidation.

Angel One’s Rajesh Bhosale noted that the recent breakout zone of 25,000–24,900 should continue to act as immediate support in the sessions ahead. He identified 25,250–25,300, which includes the 78.6% retracement level, as key immediate resistance.

Bhosale advised traders to avoid chasing momentum during such consolidations and instead consider buying on dips while booking profits at higher levels.

Choice Broking's post-market commentary echoed a cautious tone, highlighting that the Nifty’s daily chart showed a strong bearish candle with open and high nearly identical and a lower wick — signifying selling pressure at higher levels and a lack of follow-through buying.

It pegged 25,000 as immediate support, with a more critical support zone at 24,800. On the upside, it cited 25,200 and 25,300 as crucial hurdles, with a breakout above these levels needed to reignite buying interest. Given global uncertainties, Choice Broking recommended a disciplined approach and tight stop-losses.

Aditya Gaggar of Progressive Shares said that despite the range-bound move, the index remains above its key congestion zone but lacks a strong bullish candle to confirm a breakout. He pointed out 25,220 and 25,000 as key resistance and support levels to watch.

Bajaj Broking observed that the index's second consecutive small-bodied candle signalled consolidation with a positive bias, underpinned by stock-specific action. It maintained a positive structure for the index, targeting an eventual move towards 25,300 and then 25,500 in the coming weeks.

Bajaj Broking suggested using dips to 24,900–25,000 as buying opportunities, while identifying 24,600–24,700 as a critical support zone that includes Friday’s low and the 20-day exponential moving average.

All eyes now turn to the Nifty’s ability to hold these key levels as the index navigates a narrow trading range. Sustained moves above the resistance zone of 25,250–25,300 could signal a breakout, while a slip below the 24,800–25,000 support band could invite fresh selling.

The benchmark equity indices closed little changed on Tuesday, snapping a four-day winning streak for the BSE Sensex.

The NSE Nifty 50 edged up 1.05 points to 25,104.25, while the BSE Sensex slipped 53.49 points or 0.06% to end at 82,639.72. During the session, the Nifty climbed as much as 0.38% to 25,199.3 and the Sensex rose 0.29% to 82,680.79.

The Indian rupee ended nearly unchanged at 85.62 against the US dollar on Tuesday, flat from its previous close of 85.63 on Monday, as global and domestic economic factors kept currency markets in check.