Market wrap up(DWM,T,N,E):The Nifty 50 was poised for a stellar performance, given its morning rally of 345 points, but ended with just a 72-point gain due to profit booking in the afternoon trade amid concerns over uncertainty led by Middle East tensions. The index failed to defend the 25,200 and 25,300 levels on a closing basis, resulting in a false breakout on June 24, which indicates a likely continuation of consolidation within the 24,800–25,300 range. According to experts, unless the index delivers a decisive and sustained close above 25,300, consolidation may persist, with support seen in the 24,800–24,700 zone. The Nifty 50 formed a bearish candle with an upper shadow on the daily charts, while also registering a higher high–higher low formation. Although the index surpassed both the upper line of the Bollinger Bands and the downward-sloping resistance trendline, it was unable to sustain above either level. On the positive side, the index remained above its short-term moving averages, which is a constructive signal. Additionally, the Stochastic RSI maintained a positive crossover, while the RSI, at 56.71, showed sideways movement.
