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Nifty

A bullish marubozu on the daily chart highlights a decisive shift in momentum, reflecting strong buying conviction and complete control by the bulls. This candle has engulfed the previous four sessions of decline in one move, reinforcing the ongoing uptrend and signalling the potential for a strong directional phase in the weeks ahead. Nifty opened the December expiry on a strong footing, surpassing the key 26050 hurdle and extending its advance toward the 26330–26500 zone. Rollover data at 69%—a six-month low—indicates traders have avoided carrying forward short positions, often an early signal of trend continuation or strengthening bullish sentiment. The 25840 level remains a crucial structural support. Sustaining above this zone has helped preserve the broader positive trend while establishing a higher base around the 26000 mark. For the December series, options data reflects a strong support cluster in the 26000–25800 range, whereas resistance bands are gradually shifting toward 26500, indicating improving undercurrent strength. Traders may continue to hold long positions as long as 25840 remains intact, with near-term upside targets at 26330 and subsequently 26500 for the week.

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