Nifty 50 Analysis
On March 21, 2025, Indian equity markets continued their bullish momentum, with the Nifty 50 rising 159.75 points (+0.69%) to close at 23,350.40, while the Sensex gained 557.45 points (+0.73%), reflecting strong buying interest.
FIIs have offloaded ₹15,412.13 crore so far in March, despite turning net buyers on March 21 with ₹7,470.36 crore in inflows (₹49,892.65 crore purchases vs. ₹42,422.29 crore sales). DIIs, on the other hand, have pumped ₹30,788.19 crore into the markets this month but showed selling pressure on March 21, recording a net outflow of ₹3,202.26 crore after ₹3,136.02 crore on March 20. While DIIs have provided support, the market’s direction now depends on whether FIIs sustain their buying or resume selling.
Technically, the Nifty 50 daily and hourly charts indicate a breakout from the descending channel, signaling a potential trend reversal. On the daily timeframe, the index has breached a key resistance around 23,250-23,350, supported by rising RSI (66.29), showing increasing bullish momentum. The 100-day EMA at 23,521.91 is the next resistance, and a decisive close above this could push the index towards 23,900-24,000.
The hourly chart shows strong buying pressure with the RSI at 83.64, indicating overbought conditions, which could lead to a short-term pullback before further upside. If support at 23,300-23,350 holds, the uptrend remains intact. However, failure to sustain above this level could bring a retest of 22,800-22,900. Overall, Nifty 50 is showing strength, but a minor consolidation or retracement is likely before another leg higher.
The top five gainers in the Nifty 50 were
