Indian frontline indices started 2025 on a positive note on Wednesday aided by buying trends in most sectors, particularly in auto and banks. While the S&P BSE Sensex settled at 78,507.41, up by 368.40 points or 0.47%, the broader Nifty closed at 23,742.90, higher by 98.10 points or 0.41%.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the index remained volatile throughout the day but maintained a positive bias. “Short-term sentiment appears strong, with the index rising for the second consecutive session. However, the key hurdle remains the index’s position below the 200-day moving average (200 DMA). The ongoing rally may face resistance around 23,900–24,000. A decisive move above 24,000 could trigger an extension towards 24,500. On the downside, support is seen at 23,550,” De said
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