IGI Logo

Nifty

In yesterday’s session, the Nifty50 not only displayed a strong price trend but also closed above its previous day’s high, successfully surpassing the 25300 resistance on a closing basis. The index withstood recent volatility, slipping briefly towards its 20-DEMA support at 25060 before recovering to close above its 5-DEMA at 25210 for a second consecutive session — reviving bullish momentum. Despite intermittent dips, demand-driven buying continues to support the index. Both trend strength indicators remain comfortably in the buy zone, while the ADX near 25 signals improving momentum. A decisive move above 25200, particularly on rising volumes, could trigger short covering and open the path towards 25500. On the derivatives front, the options base has shifted higher from 24500 to 25000, reflecting stronger support, with resistance now seen at 25300, 25500, and a major congestion zone near 26000. A close above 25170 has reaffirmed the bullish momentum, and the follow-through breakout above 25300 reinforces the mediumterm uptrend. The strategy remains to buy on dips, with a momentum-based stop loss below 25060, targeting 25520–25680 in

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

SEBI Registration number is INZ000171838