Stock market today: NIFTY50, SENSEX break multiple resistances, do they signal a potential ATH break?

The NIFTY50 and SENSEX witnessed their best day in the last four years. Both the benchmark indices surged more than 3.5% in a single day.

• The India-Pakistan ceasefire signals easing tensions.
• The US and China agreed on a 90-day pause in their tariff war during recent talks. Moreover, the US has agreed to slash tariffs on Chinese goods from 145% to 30%. China has also agreed to reduce tariffs on US goods to 10%.
• After three years of ongoing war, possible peace talks between Russia and Ukraine are expected soon.

NIFTY50

• On the daily time frame, the NIFTY50 witnessed a gap-up opening on May 12, 2025, after two straight days of weakness at the end of the prior week.
• The NIFTY50 has given a breakaway gap. A breakaway gap is a price gap on a chart where the price jumps sharply up or down, leaving a “gap” between the previous day’s closing price and the next day’s opening price, with no trading in between. It typically signals the start of a new trend—either bullish (upward) or bearish (downward).

• The NIFTY50 not only broke its recent resistance at 24,589 formed on May 2 but also surpassed its December resistance at 24,858, achieving a multi-month breakout.
• A long bullish candle indicates that buyers have taken control and the bullish reversal trend is likely to continue.
• On the weekly chart, the NIFTY50 has achieved a V-pattern breakout after a sharp decline from its December high.

• If NIFTY50 closes above 24,858 on a weekly basis, it would indicate the possibility of it heading toward the ATH level, which is about 5% higher.

SENSEX

• The SENSEX also achieved a breakaway gap, breaching multiple resistances from October and December 2025 in the 82,220–82,320 range on a closing basis.
• A significant bullish candle further indicates buyer dominance for now.
• The only concern is that the index closed near the resistance, so confirmation over a few sessions is needed for further upside.
• The SENSEX’s all-time high is just 4% away.