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Nifty

Last week, the appearance of a 'Bullish Marubozu' on the daily chart signaled a sharp shift in momentum, reflecting strong buying conviction and complete control by the bulls. This decisive candle engulfed the previous four sessions of decline, and the subsequent closes above the 5 DEMA reinforced the ongoing uptrend while setting the stage for a potentially strong directional phase ahead. Nifty opened the December expiry on a firm note, clearing the 26050 hurdle and extending gains toward the 26330–26500 zone. Rollover data at 69%, a six-month low, indicates limited short carryover—often an early signal of a trend reversal or continuation of positive momentum. The 25840 level remains a key structural support. Sustained trade above this zone has helped preserve the broader bullish setup while establishing a higher base near 26000. Options data for the December series reflects a strong put base in the 26000 –25800 band, with resistance gradually shifting toward 26500, highlighting improving underlying sentiment. Traders may continue to hold long positions as long as 25840 remains protected, with near-term upside targets at 26330 and 26500 for the week.

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