Trading Plan: Can momentum push Nifty 50 beyond 25,250, keep Bank Nifty above 50-DEMA?

Nifty Trading Plan for September 17

Given the strong trend backed by bullish technical and momentum indicators, the Nifty 50 is likely to march toward the 25,350–25,400 zone, followed by 25,550 in the upcoming sessions, provided 25,150 acts as support; below it, 25,000 remains a crucial support. Meanwhile, with the Bank Nifty climbing above all key moving averages, the next hurdle is placed at 55,600, followed by 56,000–56,150. However, the 54,700–54,600 zone is likely to act as support, according to experts.

On September 16, the Nifty 50 soared 170 points (0.68 percent) to 25,239, while the Bank Nifty advanced 260 points (0.47 percent) to 55,148. The market breadth remained favourable for bulls, as about 1,779 shares were backed by bulls, compared to 999 shares that corrected on the NSE.

Nifty Outlook and Strategy

Vinay Rajani, Senior Technical & Derivative Analyst at HDFC Securities

The Nifty has now surpassed the previous swing high of 25,154, resulting in a higher top formation preceded by a higher bottom on the daily chart. Support has shifted up to 25,050 in the Nifty, while on the upside, 25,500 could offer resistance.

Broader markets also appear to be improving. The Nifty 500 has broken a downward-sloping trendline, and the Nifty Smallcap 100 has moved past its 50-DEMA resistance. Moreover, the percentage of stocks above their 200-day moving average in the NSE 500 universe has started to increase rapidly over the past week, indicating broadening market participation.

Finally, global markets are rising with strong momentum and have maintained a bullish technical setup. Despite this, Indian equity markets have significantly underperformed both emerging and developed markets so far this year.

Key Resistance: 25,500, 25,669

Key Support: 25,050, 24,900

Strategy: Buy Nifty Futures around 25,240, with a stop-loss of 25,050, targeting 25,500.

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

For the past 12 trading sessions, the Nifty has been protecting the prior day’s low on a closing basis. We can clearly see that there has been a higher high and higher low formation on the daily and hourly charts. Options IVs (implied volatility) have started spiking up as prices are moving out of a range-bound phase into a trending move. On the upside, we can aim for the 25,361 level. As long as the support is intact, buying on dips is the prudent strategy for now.

The Nifty trend remains positive as long as 25,050 holds, aiming for 25,361 or higher on the upside from here on. We will closely watch any retracement from here on the downside, which will provide further clues to our next target levels.

Key Resistance: 25,361

Key Support: 25,050

Strategy: Use dips towards 25,170–25,190 as a buying opportunity in the Nifty 50, with targets of 25,280 followed by 25,361 and a stop-loss of 25,100.

Preeti K Chabra, Founder of Trade Delta

The Nifty index continues to sustain above the 40-week EMA (24,360) and the 20-week SMA (24,873; middle Bollinger Band), reflecting underlying strength. The weekly RSI at 58.2 stays above its signal line, confirming ongoing bullish momentum.

On the daily timeframe, the Nifty is trending within an upward channel and registered a breakout above 25,153 with a strong bullish candle, opening room for further upside. It is currently holding above the 20-SMA (24,851) and the 40-EMA (24,858), which are acting as a near-term support zone. The daily RSI at 63.8, comfortably above its signal line, reaffirms the bullish bias.

On the derivatives front, the option chain structure signals a bullish undertone, with visible unwinding in in-the-money (ITM) Calls, further strengthening the upside outlook.

Key Resistance: 25,350, 25,500

Key Support: 25,150, 25,038

Strategy: Adopt a buy-on-dips approach. Go long on Nifty Futures near the cash price of 25,150 with an upside target of 25,350 and a stop-loss at 25,038.

Bank Nifty - Outlook and Positioning

Vinay Rajani, Senior Technical & Derivative Analyst at HDFC Securities

After underperforming the Nifty for the past couple of months, the Bank Nifty is showing signs of building bullish momentum on the short-term charts. On the weekly line chart, the index has bounced from a crucial horizontal trendline support. The Bank Nifty index has now surpassed its 50-DEMA and has also broken out from the downward-sloping trendline on the daily charts. Indicators and oscillators have turned bullish, signaling good strength in the recent recovery of the index.

Key Resistance: 55,300, 56,150

Key Supports: 54,777, 54,400

Strategy: Buy Bank Nifty Futures around 55,147, with a stop-loss of 54,777, targeting 56,150.

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

The Bank Nifty continued to show a steady rise with participation from both PSU and private sector banks. The index has surged nearly 3 percent from the lows of 54,560 levels, and not a single candle has closed below the prior day’s low for more than 11 trading days. This recent rise has retraced 38.2 percent of the prior entire fall, which started from July 2025. We expect it to retrace 50 percent of it, which comes near the 55,600 level.

The PCR (Put-Call Ratio) is trading at a comfortable zone of 1.08, suggesting there is still room left on the upside for the index to trend further. Also, prices have managed to sustain above the mid Bollinger Bands on the daily chart, which is a positive sign.

A sustainable break above 55,190 levels can result in a move towards 55,600 levels or higher. Any breach below 54,800 levels will be the first sign of concern.

Key Resistance: 55,600

Key Support: 54,800

Strategy: Long positions can be created if prices move towards 55,000–55,050 levels and break above 55,190, with a stop-loss of 54,990 and a target of 55,390 followed by 55,600 levels.

Preeti K Chabra, Founder of Trade Delta

Bank Nifty closed above the 40-day moving average placed at 55,067. On the derivatives front, unwinding in the in-the-money Calls along with fresh writing in in-the-money Puts signals a continuation of bullish sentiment.

Key Resistance: 55,567

Key Support: 54,975, 54,750

Strategy: Buy Bank Nifty Futures around 55,050 for an upside target of 55,567, while keeping a stop-loss in the range of 54,975–54,950.

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