New Delhi, Nov. 9 -- Bulls and bears slugged it out at the 25000 mark on Monday, a level the Nifty hasn't convincingly tested since the US-Iran war began in late February, when the Nifty traded at 25178.65. Analysts, though, remain bullish on a decisive break above 25000.

The tug-of-war followed a 13% recovery in the Nifty from its 52-week low of 22179.9 on 8 October to 25030.35 on Friday. Nearly 70% of the gains came in the first week of November.

Though markets were open for Muhurat trading on Sunday, cash volumes were tepid at Rs.23,275 crore against average daily volume of over Rs.1.2 trillion this month. The special session is, therefore, excluded from the analysis.

By noon on Monday, which coincides with the Nifty weekly expiry, ...