The Indian stock market has been on a bullish trajectory with the Nifty 50 index closing at 23190.65 on 20 March 2025 marking its highest close since 10 February 2025. This surge is attributed to strong buying across sectors particularly in oil & gas, auto, FMCG, and IT stocks..
Stock market today: 23100 and 23000 Â will be key support zones for the Nifty 50 index while 23300 and 23400 could serve as key resistance areas for day traders said experts
Nifty 50 Technical Outlook
The Nifty 50 has reclaimed its 50 day exponential moving average (EMA) after 29 sessions signaling a potential continuation of the uptrend. Immediate support levels are identified at 23100 and 23000 while resistance is anticipated around 23300 and 23400. A decisive move above 23200–23250 could propel the index towards 23500 levels.
Global Market Influence
Global cues have been favorable contributing to the positive sentiment in the Indian markets. The resurgence in U.S. manufacturing driven by policy shifts aiming to bring production back to America has bolstered industrial stocks. Companies like Eaton GE Vernova and Rockwell Automation are expected to benefit from increased factory construction and power demands.