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What is the story about?
The Nifty extended its winning streak to a fourth straight session on Wednesday, adding 18 points to close at 25,953. Despite the gains, trade remained choppy, with the index moving in a narrow 110-point range through the session.
After opening on a positive note, the benchmark oscillated between gains and losses before ending marginally higher, holding above the 25,950 mark.
Among the top gainers on the Nifty were Eicher Motors, Apollo Hospitals, and Max Healthcare, while IT heavyweights TCS and Infosys, along with Coal India, ended as the top laggards.
Sectorally, most indices closed in the green, led by Healthcare, Auto, PSU Banks, and Pharma. IT and private banks were the only sectors to end lower.
Broader markets were largely flat, with the Nifty Midcap 100 and Smallcap 100 indices posting marginal gains of 0.03% and 0.02%, respectively.
In the currency market, the rupee weakened by 12 paise to close at 90.70 against the dollar, amid rising crude and precious metal prices that boosted importer demand for dollars.
Investors now await key global and domestic macro data, including US non-farm payrolls and the unemployment rate later today, followed by India's CPI inflation and US initial jobless claims tomorrow.
Siddhartha Khemka of Motilal Oswal said markets are likely to see a gradual uptick, with stock-specific action picking up as the Q3 earnings season enters its final leg.
On the technical front, analysts pointed to the 26,000 mark as a key hurdle.
Nagaraj Shetti of HDFC Securities said a sustained move above 26,000 could push the Nifty towards 26,350-26,400 in the near term, while immediate support is placed at 25,800.
Sudeep Shah of SBI Securities also sees resistance in the 26,000-26,050 zone, adding that a decisive breakout could extend the pullback towards 26,200 and then 26,400.
On the downside, the 25,850-25,800 band is seen as strong support, Shah added.
Rupak De of LKP Securities said that while the index faced resistance at 26,000, the short-term trend remains positive as long as it holds above 25,800.
Meanwhile, Nandish Shah of HDFC Securities said the Nifty continues to trade above its key moving averages. A move past 26,000 could open the path towards a fresh all-time high above 26,373, while the 25,700-25,780 zone may act as strong support.
After opening on a positive note, the benchmark oscillated between gains and losses before ending marginally higher, holding above the 25,950 mark.
Among the top gainers on the Nifty were Eicher Motors, Apollo Hospitals, and Max Healthcare, while IT heavyweights TCS and Infosys, along with Coal India, ended as the top laggards.
Sectorally, most indices closed in the green, led by Healthcare, Auto, PSU Banks, and Pharma. IT and private banks were the only sectors to end lower.
Broader markets were largely flat, with the Nifty Midcap 100 and Smallcap 100 indices posting marginal gains of 0.03% and 0.02%, respectively.
In the currency market, the rupee weakened by 12 paise to close at 90.70 against the dollar, amid rising crude and precious metal prices that boosted importer demand for dollars.
Investors now await key global and domestic macro data, including US non-farm payrolls and the unemployment rate later today, followed by India's CPI inflation and US initial jobless claims tomorrow.
Siddhartha Khemka of Motilal Oswal said markets are likely to see a gradual uptick, with stock-specific action picking up as the Q3 earnings season enters its final leg.
On the technical front, analysts pointed to the 26,000 mark as a key hurdle.
Nagaraj Shetti of HDFC Securities said a sustained move above 26,000 could push the Nifty towards 26,350-26,400 in the near term, while immediate support is placed at 25,800.
Sudeep Shah of SBI Securities also sees resistance in the 26,000-26,050 zone, adding that a decisive breakout could extend the pullback towards 26,200 and then 26,400.
On the downside, the 25,850-25,800 band is seen as strong support, Shah added.
Rupak De of LKP Securities said that while the index faced resistance at 26,000, the short-term trend remains positive as long as it holds above 25,800.
Meanwhile, Nandish Shah of HDFC Securities said the Nifty continues to trade above its key moving averages. A move past 26,000 could open the path towards a fresh all-time high above 26,373, while the 25,700-25,780 zone may act as strong support.
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