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Nifty

The week began on a strong note as the index extended its rally throughout the session, registering yet another solid close. The gap-up opening and its subsequent sustenance display classic Breakaway Gap characteristics, reinforced by strong volume participation as the index decisively crossed the 0–2 trendline hurdle. The daily RSI had already hinted at a potential reversal, with a positive crossover above the 50 mark, further validating the gradual improvement in momentum. This recent price action, coupled with key indicators approaching the upper boundary of the prevailing range, raises the probability of a long-awaited directional momentum move. That said, a sustained follow-through above 26,330 would significantly strengthen the ongoing momentum. On the downside, the 26000 zone remains a crucial support for maintaining trend strength. A convincing breakout above 26050 has opened the pathway towards 26330, while a breakdown below 25940 would weaken the setup and could expose the index to corrective pressure. Given the current technical configuration, traders may consider adding aggressive fresh positions as long as the index holds above the key support of 26050, with review and profit-booking zones placed in the 26330–26550 range for the final week of the current series

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