Nifty 50 Analysis – March 7, 2025
The Nifty 50 Index remains in a clear downtrend, forming a descending channel with persistent lower highs and lower lows. Despite a minor gain of 0.03% (7.80 points) on March 7, 2025, the broader structure remains weak. The index recently bounced from the 21,797.45–22,051.50 support zone, but the broader structure remains weak. The daily 9-day EMA (22,378.57) is trading well below the 70-day EMA (23,475.21) and 100-day EMA (23,687.57), reinforcing bearish momentum.
On the weekly timeframe, the 9-day EMA (23,019.04) is below the 70-day EMA (23,113.85) but still above the 100-day EMA (21,901.45), indicating that long-term support remains intact. The RSI (41.70 daily, 39.58 weekly) suggests subdued buying interest, but the market has yet to enter oversold territory. Immediate resistance is seen at 22,750–23,000, with a major breakout level at 23,400 that could shift momentum if breached. On the downside, a break below 21,800 may accelerate declines toward 21,200, reinforcing the bearish bias unless a strong reversal emerges.
The top five gainers in the Nifty 50 on March 7, 2025 were
