June 28, 2025: The Indian stock market extended its rally for the fourth consecutive session on Friday, June 27, driven by strong buying interest in heavyweight stocks such as Reliance Industries and ICICI Bank. Fresh foreign fund inflows further supported the overall positive sentiment. The BSE Sensex gained 303.03 points, or 0.36%, closing at 84,058.90, while the Nifty 50 index rose 88.80 points, or 0.35%, to end at 25,637.80.
For the week, the Sensex surged 1,650.73 points, a 2% increase, while the Nifty climbed 525.4 points, also up by 2%. This bullish momentum was highlighted by a strong weekly close, with the Nifty decisively crossing the 25,500 level and surpassing previous swing highs on the weekly chart.
Market expert Gautam Shah of Goldilocks Global Research shared his outlook on ET NOW Swadesh, noting that the Nifty index has maintained its bullish momentum after consolidating for five weeks within the 24,500 to 25,200 range. Contrary to expectations of a market breakdown due to escalating geopolitical tensions, the markets respected support levels and benefitted from strong liquidity and solid fundamentals.
“As soon as geopolitical tensions eased, the markets broke out from the consolidation phase. The momentum is strong, participation is increasing, and market breadth is solid,” Shah said. He added that the market is not yet in the overbought zone and sees no major technical signals warning of a reversal.
Looking ahead, Shah identified 25,600 as a minor resistance level. Should the Nifty bulls manage to close above this mark, the rally is expected to continue, potentially pushing the index towards a new all-time high near 26,200. Support levels are now firmly placed between 25,400 and 25,500, providing a robust base for further gains.
Shah encouraged traders to remain engaged in the market, emphasizing the attractive setup for short to medium-term investments amid strong participation and factored-in concerns.
Investors and traders will be closely watching Monday’s opening and the week ahead to see if the bullish momentum can sustain and propel the Nifty to fresh highs.