Nifty on track to hit 30,000 by December 2025? Here's what tech charts say

Technically, the Nifty 50 index is seen quoting above key moving averages across time-frames, which is a bullish sign. Here are the key support and resistance levels to watch out for on the index.

Despite significant volatility in the stock market, the National Stock Exchange (NSE) benchmark - the Nifty 50 index has gained 3 per cent thus far in the month of May, and is seen quoting back above 25,000-mark after a gap of seven months.  The Nifty 50 has surged 15.5 per cent from its April 7 low of 21,744; and in the process is seen trading above the key moving averages across time-frames. Technically, an index or stock quoting above all moving averages is considered to be trading with a favourable bias.  Just three weeks ago, the Nifty had given a fresh breakout on the weekly chart, and has since gained over 5 per cent. The NSE benchmark is roughly 4.9 per cent away from its life-time peak of 26,277.   Catch Stock Market LIVE Updates Today  Given the renewed optimism in the market on the back of hopes of a favourable US-India trade deal, good monsoon, and easing geopolitical situation, can the Nifty pick-up speed and rally all the way to 30,000-mark by the year-end?  Here's what the technical charts suggests: 

Nifty

  Current Level: 25,062  Upside Potential: 14.9%  Support: 24,770; 24,315; 24,050; 23,770  Resistance: 25,900; 25,650; 25,680; 27,650  In the very near-term, the Nifty may look to build-up on the upside momentum as long as the index quotes above 25,000-mark. On the upside, the index seems on course to test its key medium-term resistance at 25,900 levels. Interim hurdles are placed at 25,268 and 25,333 levels.    Technical chart suggests that break and consistent trade above 25,900 levels, can open the doors for a likely rally to new life-time highs, targeting 26,500 - 26,800 levels in the short-to-medium term.  ALSO READ | Coforge, Vesuvius stocks to turn ex-split in June; how to trade? Read here  In the bullish case scenario, the NSE Nifty 50 index can potentially zoom to 28,785 levels by December 2025, suggests the Fibonacci extension chart; as per which, major interim resistance for the index stands at 27,650 levels. Technical chart for now does not show the possibility of the index hitting the next landmark at 30,000 by this year-end.  Meanwhile, the key short-term support for the Nifty stands at 24,770 levels. Below which, the Nifty can potentially seek support around its 20-Day Moving Average (20-DMA), which stands at 24,315 or the 200-DMA at 24,050 levels. The trend line support for the index stands at 23,770. CLICK HERE FOR THE CHART