The Nifty remains above both short-term and long-term moving averages.

`The markets have been hitting new highs in the recent upsurge; investors are now a bit sceptical about taking further bullish bets.'

The market rally shows no signs of slowing down; no obstacles for market inflows; inflation concerns resurface; the rupee weakens as the dollar surges.

The momentum indicators suggest a bullish trend, with the Nifty remaining  above both short-term and long-term moving averages.

The Nifty 50 closed 43 points, or 0.17 percent, higher at 25,278.70, with shares of Bajaj Finserv, Bajaj Finance, and HCL Tech as the top gainers.; the Sensex closed 194 points, or 0.24 percent, higher at 82,559.84.

The Nifty remains above both short-term and long-term moving averages

In early trading, the Sensex rose to 82,637, and the Nifty reached 25,258.8 before retracting.

Nifty and Sensex pushed higher, with hopes of further gains; US recession fears ease; crude oil hits $80 per barrel.

Momentum indicators suggest a bullish trend, as the Nifty continues to  trade above both its short-term and long-term moving averages.

Technical outlook: The current upward trend is expected to continue as long as the Nifty stays above the key level of 24,980.