7 days ago
- Business
- Business Standard
Street Signs: Nifty hits the 25K wall, SAT's gavel comes down hard, more
The Securities Appellate Tribunal (SAT) will resume proceedings on Monday after a three-week summer recess
Samie Modak Khushboo Tiwari Mumbai
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Nifty hits the 25K wall, searching for a crack
The Nifty 50 index ran into resistance at the 25,000 mark last week, failing to break through convincingly. The benchmark slipped 0.4 per cent to close at 24,751 as selling pressure intensified near the psychological threshold. Analysts expect the market to remain in a consolidation phase in the absence of fresh triggers. Dhupesh Dhameja, derivatives research analyst at Samco Securities, said the market remains on an upward trajectory as long as it stays above its 20-day exponential moving average, but the 25,100 level is proving hard to crack. 'A decisive breakout