Market wrap up(DWM,T,N,E):The Nifty 50 rebounded after a day of profit booking and ended the rangebound session 0.1 percent higher on July 1. The index sustained above 25,500 on a closing basis for another session. Technical indicators suggest a phase of consolidation may continue for a few more sessions following the recent sharp rally, with the 25,650–25,700 zone likely to act as resistance on the upside. Sustaining above this zone could open the door for further gains. On the downside, the 25,400–25,300 area is expected to serve as a support zone, according to experts. The Nifty 50 formed a Doji candlestick pattern on the daily timeframe, indicating indecision among bulls and bears after trading within the previous day’s range. The index traded near the upper Bollinger Bands and sustained well above the support trendline. The MACD maintained a positive crossover, though the bullish bias in the histogram appears to be fading. The RSI, at 64.29, sustained its positive crossover. However, the Stochastic RSI gave a negative crossover in the upper band, indicating potential short-term weakness or sideways movement.
