Nifty 50 Analysis – March 6, 2025
Nifty 50 gained 0.93% (207.40 points) to close at 22,527.60, but the broader trend remains bearish, with the index forming lower highs and lower lows on both the daily (1D) and 30-minute timeframes. It continues to trade within a downward-sloping channel, facing strong resistance at the 100-day EMA (23,712.62) and 70-day EMA (23,494.66). Key support lies at 21,795–21,775, and a breakdown below this could push the index toward 21,175. The daily RSI at 41 reflects weak momentum, while the 30-minute RSI at 71 indicates overbought conditions, suggesting a likely near-term pullback.
FII trading data reveals persistent selling pressure in March, with ₹13,466.47 crore net outflows MTD, including ₹2,377.32 crore today (March 6). While this is lower than March 5 (-₹2,895.04 crore) and March 4 (-₹3,405.82 crore), it continues the selling trend. The heaviest FII outflow was on March 3 (-₹4,788.29 crore), reinforcing bearish sentiment. DIIs, however, have been providing support with ₹18,630.53 crore net inflows MTD, including ₹1,617.80 crore today, lower than March 5 (₹3,370.60 crore) and March 4 (₹4,851.43 crore). The highest DII buying occurred on March 3 (₹8,790.70 crore), counteracting FII selling.
Despite today’s rebound, the market remains weak unless Nifty reclaims 23,712, which could shift sentiment. Otherwise, rallies are likely to face resistance, and a breach of 21,795 may trigger further downside.
The top five gainers in the Nifty 50 today were
