Stock Market Today: Will Nifty Break 25,630 Today? Key Levels To Watch Before You Trade
Updated 2 July 2025 at 08:55 IST
Stock Market Today | Image: NSE
On Tuesday, Indian benchmark indices ended marginally lower after a range-bound session. The NSE Nifty 50 slipped 25 points to settle at 25,542, while the BSE Sensex declined 91 points to 83,697. The day was marked by muted price action, with the Nifty swinging within a 91-point intraday range, its narrowest since June 9.
At 8:28 AM on Wednesday, GIFT Nifty was seen trading at 25,687, up 5.50 points or 0.02%, indicating a flat-to-positive start for Indian equities.
Sudeep Shah, Head of Technical & Derivative Research at SBI Securities, said, “On Tuesday, the benchmark Nifty index witnessed a lacklustre trading session, moving within a narrow range of just 91 points — its tightest intraday range since June 09. This subdued price action reflects a phase of consolidation and hesitation among market participants.”
Shah emphasised that the Nifty is currently in a consolidation zone.
Immediate support lies in the 25,380–25,350 range.
A breakdown below 25,350 could drag the index down to 25,200.
On the upside, 25,600–25,630 will act as immediate resistance.
“Any sustainable move above 25,630 will lead to a resumption of its northward journey, and in that case, the index is likely to test 25,800 followed by 25,950 in the short term,” Shah added.
The Bank Nifty witnessed a mild recovery on Tuesday after touching a low of 57,150. It ended the session up 0.26% at 57,459.
“The major trend of the index remains bullish as it is trading near its all-time high levels,” Shah noted.
Support: 57,200–57,100
Resistance: 57,800, followed by 58,200
“As long as the index is trading above 57,100, bullish momentum is likely to continue,” Shah said.
Commenting on the BSE Sensex, Shah said, “On the weekly expiry day, the benchmark index Sensex traded in a narrow range of 302 points, which was the lowest daily range in the recent period.”
Resistance: 83,900–84,000
Support: 83,200–83,100
In the cash market on Tuesday:
Foreign Institutional Investors (FIIs) were net sellers to the tune of Rs 1,970.14 crore
Domestic Institutional Investors (DIIs) were net buyers worth Rs 771.08 crore
Overnight, US markets ended on a mixed note following a strong rally in previous sessions.
Dow Jones climbed 400.17 points (0.91%) to 44,494.94, reaching a four-month high
S&P 500 dipped 0.11% to 6,198.01
Nasdaq Composite fell 0.82% to 20,202.89
“The S&P 500 trades at record highs, and all key moving averages and momentum indicators are pointing towards continued bullish strength. The index looks set to maintain its upward march toward the 6,280 mark, while the 6,160–6,140 zone will act as crucial support,” Shah said.
On commodities, Shah noted that Brent Crude has continued to trade within a tight band of $67.84–$65.87 for the past five sessions.
“The major trend of Brent is bearish as it is trading below its short and long-term moving averages. Any sustainable move below $65.70 could trigger a fall toward $64,” he added.
Asia-Pacific Markets React to Powell’s Comments
In Asia, markets traded mixed on Wednesday after US Federal Reserve Chair Jerome Powell stated that the Fed would have cut rates if it weren’t for President Trump’s tariff initiatives.
Singapore’s STI rose 0.4% to hit a record high of 4,005.39
Japan’s Nikkei 225 fell 1.32%, while Topix slipped 0.64%
South Korea’s Kospi declined 0.42%, while Kosdaq remained flat
Australia’s S&P/ASX 200 gained 0.49%
Hong Kong’s Hang Seng rose 0.73%, and China’s CSI 300 was flat
Published 2 July 2025 at 08:55 IST
