The technical indicators present a short-term weakness for the NSE Nifty 50, which closed lower on Monday in a session dominated by profit booking, signalling a pause in its recent strong upward momentum, according to analysts.From a technical perspective, the Nifty's short-term trend remains positive as it is still positioned above its nearest moving average support of the five-day EMA, according to Nandish Shah, senior derivative and technical research analyst at HDFC Securities.The Nifty has partially filled the gap range of 25,640-25,740 that formed on Oct. 3, 2024. Any move and close above 25,740 would negate this gap resistance and could potentially extend the Nifty's upward rally towards the 26,000 mark, Shah added.The Nifty has formed a bearish engulfing candlestick pattern on the daily chart, according to Bajaj Broking. This indicates a potential short-term reversal and signalling profit booking at elevated levels following a sharp uptrend.The Nifty at 25,470 will be a key level to watch, according to Shrikant Chouhan, head of equity research at Kotak Securities. If it moves above this level, it could touch 25,600 and below this level, it will fall to 25,375.The Bank Nifty formed a narrow-body bearish candle on the daily chart, reflecting mild profit booking at elevated levels, Bajaj Broking said.The index is currently perched above its immediate support zone of 57,000–56,800. Sustaining above this demand zone will keep the short-term bias constructive, paving the way for a potential move towards 58,500.Market RecapThe NSE Nifty 50 ended 120.75 points or 0.47% lower at 25,517.05, while the BSE Sensex closed 452.44 points or 0.54% down at 83,606.46. During the day, Nifty fell 0.64% to trade at 25,473.30 and Sensex declined 0.69% to 83,482.13.Stock Market Today: Nifty, Sensex Snap Four-Day Winning Streak As ICICI Bank Shares DragCurrency UpdateThe Indian rupee unit depreciated by 26 paise to close at 85.75. The local currency shed 0.2% for the month, compared to 1.3% in May, posting a second consecutive month of decline against the US dollar.Nifty 50 Top Gainers, Losers On June 30: Trent, SBI, IndusInd, Bharat Electronics. Read more on Markets by NDTV Profit.