Index broke out after inside bars, closing above key 25500 level -Tradebulls Securities Pvt Ltd
After a series of inside bar formations, the index displayed an expanding move by closing above the key 25500 resistance level. It continues to hold its demand zone near the 5-DEMA, staying within the broader 25000–25700 consolidation band. The 25400 mark now serves as a pivotal midpoint. Going forward, a sustained breach below 25,230 (20-DEMA) could trigger weakness, while 25730 remains a critical resistance level for any meaningful upside continuation. For the week, options data suggests strong support in the 25,400–25,300 zone, with resistance capping near 25700. A breakout above this range could open the door for a surge towards 26000. The broader trend remains bullish as long as Nifty holds above 25,030 on a weekly closing basis. Technical indicators like a rising daily ADX above 28, bullish short-term moving average crossovers, and positive momentum readings indicate strengthening trend dynamics. Strategy remains to maintain stock-specific long positions as long as Nifty sustains above 25030. A breakdown below 25230 may lead to a short-term drift lower while a breakout above 25730 is awaited for fresh aggressive long additions. Until then, buying on dips remains a preferred approach within this bullish structure, with a close watch on the 25030 weekly support level.
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