Nifty Defends 25,000 Amidst Weak Recovery; Key Levels to Watch

• Nifty defended the 25,000 level but recovery lacked conviction, closing near its opening level despite intraday swings.
• The 200-DMA is no longer a safe support, with 25,000 becoming the critical downside level; a break could lead to 24,587.
• Market sentiment is weak, punishing even decent earnings; Thursday expects heavy result reactions from companies like Eternal, Dr. Reddy's, HPCL, and DLF.
• Experts like Rajesh Bhosale (Angel One) and Nagaraj Shetti (HDFC Securities) advise caution, citing capped upside and potential further downside.
• Nifty Bank, which previously supported Nifty, has also collapsed from 60,000, now 1,600 points below its record high, with 59,700 as crucial support.

Why It Matters: Nifty's recovery lacks conviction, with 25,000 as critical support amidst weak market sentiment and earnings reactions.