Strong support is seen near 24,970–25,000, keeping the trend moderately positive.
The Nifty index is at a crucial inflection point, with analysts flagging resistance near 25,200 that could either cap the ongoing rally or trigger a fresh breakout towards 25,600 and beyond.
Will the index be able to maintain its uptrend? SEBI-registered analysts have shared the Monday trade setup on Stocktwits, as well as breakout stocks to watch in the week ahead. Let’s take a look at what they had to say.
Trade setup for September 15
Bharat Sharma of Stockace Financial Services noted that positionally, the Nifty index had crossed 24,800-25,000 with a moderately positive bias. The resistance is now identified at 25,200, which coincides with the previous peak around 25,150–25,160.
Sharma flagged two formations on the daily chart: one was a double bottom near 24,400, a positive structure showing a significant breakout at the neckline, and the second is resistance near 25,150–25,250, which historically acts as a strong barrier and could once again challenge the current bias.
So, he cautioned traders as the upcoming range will determine Nifty’s next move – either it faces resistance again or breaks out towards 25,400–25,600 and beyond. If the Nifty index moves higher, it could potentially test its previous all-time high, or if the resistance holds, the index may remain in a range-bound phase of roughly 1,000 points before retesting these levels, Sharma added.
For Monday’s trade, he identified immediate resistance at 25,140, which, if breached, could face resistance at 25,150-25,200-25,250. On the downside, immediate support is seen at 25,100-25,080, which is aligned with the 20-day Exponential Moving Average (EMA) on the 15-minute timeframe. Sharma said that the probability of Nifty witnessing resistance at these levels is higher, and the market could see some retracement.
Analyst Ashish Kyal said that the Nifty index needs a close above 25,140 on the 15-minute timeframe, which will provide short term trading opportunity for a move to 25,230, followed by Gann levels of 25,361 levels. On the downside, support is seen near 24,970. He noted that for the past 10 sessions, the Nifty index has not closed below its previous low.
Prabhat Mittal identified Nifty support at 24,980, with resistance at 25,320. For the Bank Nifty, he sees support at 54,500 with resistance at 55,300.
Stocks to watch
SEBI-registered analyst Financial Sarthis has flagged four breakout stocks.
Vedanta: Broad consolidation pattern was witnessed. A strong close above ₹452 could set the stage for a major breakout attempt towards all-time highs.
Amber Enterprises: An ascending triangle formation was observed, with the stock building up below a key resistance level and showing signs of an imminent breakout. Financial Sarthis believes that the pattern of rising lows pressing against a flat top suggests that buying pressure is accumulating and a breakout above ₹8,054 is likely.
Max Healthcare: Stock was seen in an uptrend with pullback and support at Anchored Volume Weighted Average Price (AVWAP). The stock is finding solid support and has formed a hammer candle with volume, and it looks primed for its next ascent.
Tube Investments has seen a trend reversal setup after a significant correction. The stock is building a solid foundation with huge volume and closed above the AVWAP level. A decisive move above resistance (₹3,260) could signal an upside till ₹3,480-₹3,490.
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