Stock Market Outlook Today: Sensex, Nifty May Face Strong Resistance Near 25,000 as Profit Booking Hits

The market is expected to open cautiously on September 9, with the Nifty likely to remain range-bound between 24,500 and 25,000. A decisive breakout above the 25,000 mark could trigger a strong upward movement, indicating renewed bullish momentum. However, if the index fails to hold above key support levels of 24,700 or 24,620, there is a possibility of short-term weakness, potentially dragging the index down toward the 24,500 zone.

Stock Market Outlook Today for September 9, 2025

The Indian stock market closed with modest gains on Monday, September 8, but witnessed profit booking in the final hour of trade, trimming earlier intraday highs. The benchmark Nifty 50 settled at 24,773, up 32 points, after facing strong resistance near the 24,900-25,000 zone.

Despite the late selling pressure, the index managed to stay above its key technical indicators-the 10-day and 20-day Exponential Moving Averages (EMAs)-as well as the midline of the Bollinger Bands, all of which are currently aligned near the 24,700 level.

Sensex, Nifty Prediction Today: Check Technical View By Experts

On the daily chart, Nifty formed a small bearish candle with a long upper shadow, indicating intraday profit-taking at higher levels. The index touched an intraday high of 24,886 before giving up part of its gains.

Since the index is currently positioned below the key resistance zone of 24,900-25,000, it may experience further consolidation or slight weakness over the next one to two sessions. A breakout above the 25,000 level could trigger sharp buying interest, while immediate support is now placed at 24,620.

Key Support and Resistance Levels for Nifty

"The broader trading range is expected to remain between 24,400 and 25,000 in the near term. Immediate support is identified at Friday's low of 24,620. As long as the index holds above this level, a pullback towards the 25,000 mark remains likely. However, a break below 24,620 could trigger further downside, dragging the index toward the crucial support zone of 24,400-24,300," as per Bajaj Broking Report.

Bajaj Broking further added, "Key support area of 24,400-24,300 is the confluence of the recent swing lows and the 200-day EMA, making it an important level to monitor. Overall, the index is likely to remain in a consolidation phase with a focus on stock-specific moves."

Bank Nifty Forms Doji, Faces Selling Pressure

The Bank Nifty also saw profit booking at higher levels. It ended the day with a gain of 72 points, closing at 54,187, but gave up over 300 points from its day's high. The index formed a Doji-like candlestick pattern on the daily timeframe, signaling indecision among traders.

According to Sudeep Shah, Head of Technical & Derivative Research at SBI Securities, Bank Nifty has failed to close above the 54,400-54,500 resistance zone for the past three sessions. He warned that a sustained move below 53,900 could lead to a deeper correction, possibly toward 53,500, followed by 53,100.

Options Market Data Signals Key Levels

In the options market, the highest Call open interest (OI) for Nifty was seen at the 25,000 strike, followed by 24,900 and 25,500. Call writing was most active at 24,900, 24,850, and 24,950, indicating stiff resistance around those levels.

On the Put side, the highest open interest was seen at the 24,500 strike, suggesting strong support around that level. The Put writers are likely expecting Nifty to hold above this mark in the near term.

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