IGI Logo

Nifty

Nifty closed the November expiry on a subdued note, slipping towards its 20-DEMA support at 25860. The rollover at 69%—a six-month low—signals a lack of strong conviction among traders, likely due to expectations of near-term consolidation. However, with no clear reversal pattern on the charts, the index may still attempt a rebound from the key 20-DEMA zone near 25,840.The 25840 level remains a crucial structural support, and sustaining above it will be essential to preserving the broader bullish trend in the weeks ahead. For the December series, options data indicates a solid base forming in the 26000–25800 region, while resistance zones are gradually shifting toward 26500—reflecting an undercurrent of strengthening bullish sentiment. The medium-term setup continues to hint at improving upside momentum. Traders may maintain long positions as long as 25840 holds, with upside projections toward 26330 and subsequently 26500 for the week. That said, the short-term texture remains slightly fragile. Support stays firm at 25850–25900 range, with a low likelihood of significant downside below this band. On the upside, even a marginal move above 26050 could help Nifty reclaim 26200 on a closing basis, reinstating confidence in the prevailing bullish structure.

Please refer disclaimer at https://www.tradebulls.in/disclaimer

SEBI Registration number is INZ000171838