Nifty 50 jumps 1850 points in six straight sessions. Can the 50-stock index reach 25,000 this month?

Stock market today: Amid rising economic uncertainty due to Trump's tariffs and fresh tension between US President Donald Trump and US Fed Chairman Jerome Powell, the Indian stock market extended its bull trend for the sixth straight session on Tuesday. The Nifty 50 index opened upside at 24,185 and touched an intraday high of 24,242, recording a 1,850-point rally in the last six straight sessions. The BSE Sensex today had a gap-up opening at 79,728, and the 30-stock index touched an intraday high of 79,824, logging a 6,000-point rise in six successive sessions.

As gold prices in the retail Indian markets have touched the landmark ₹1 lakh per 10 gm levels, the market is full of speculations about whether the Nifty 50 index will be able to regain the 25,000 levels this month or if it will take time. According to stock market experts, triggers for the Indian stock market, which has fueled the key benchmark index, are still around, and hence, the bull run is expected to continue on Dalal Street. They said the Nifty 50 chart signals the benchmark index faces major hurdles at 24,250 to 24,300 and 24,800 to 24,850. If the 50-stock needs to break above these resistances decisively to hit 25,000.

Can Nifty reach 25,000 this month?

On Nifty reaching 25,000 this month, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, “Major trigger for the Indian and Asian stock market's rally is uncertainty around Trump's tariff. However, the 90-day pause has fueled bulls' sentiment. The weakness in the US currency, equity, and bond markets has forced FIIS to fish out money from the US markets and park it in emerging markets like India and China. As trade war tension is expected to play into the minds of FIIS, they are expected to prefer Indian markets over Chinese markets. So, any dip in the Indian stock market should be seen as a buying opportunity.”

"Our statistical model suggests that a host of the negative news is now priced-in and has entered into base formation in the vicinity of 21900-23800," ICICI Direct report on the Indian stock market says.

On what Nifty 50 chart pattern suggests, Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said, “Nifty today tested the weekly swing high of 24,226.75 and is witnessing some profit booking. A decisive daily close above this resistance could trigger further momentum towards the next weekly swing high at 24,857.75."

Stocks that may fuel Nifty 50, Sensex

 "The next leg of the rally may be fueled by metals showing follow-up strength and IT, which is poised for a sharp dead cat bounce. Watch for sector rotation as cues from these pockets may guide the index’s next move,” Anshul Jain said.

On whether Nifty 50 will be able to reclaim 25,000 levels this month, Anshul Jain said, “Nifty today faces two big hurdles — first placed at 24,250 to 24,300 and the second placed at 24,800 to 24,850. Leaving Tuesday, there are five more sessions left this month. Much will depend on today's close. If Nifty today closes above 24,242 or close to 24,242, then we can expect the key benchmark index to break above this immediate hurdle on tomorrow, opening a fresh target of 24,800 to 24,850, keeping the hopes alive for the 50-stock index to touch 25,000 this month.” 

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.