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Nifty  

Niftys movement remained capped below 26050 throughout last week, continuing to trade within the anticipated consolidation band of 26050- 25650. This range-bound action reflects short-term indecision after a strong 14-session bullish streak. Despite the pause, the index continues to hold above its 5-WEMA, which serves as a key pivot to sustain buying interest around 25520. However, last week’s close below 25850 (5-DEMA) raises the possibility of a short-term pullback towards the 20-DEMA support near 25650, particularly if weakness extends in today’s session. Momentum indicators - RSI and ADX- remain neutral, indicating the absence of any major reversal signals. A brief consolidation or mild retracement towards 25650–25500 could help establish a higher base before the next upward leg resumes. As long as Nifty sustains above 25650, the broader bullish structure remains intact. Once the ongoing consolidation phase matures, potential upside targets are seen at 26340– 26500 on a decisive move above 26050. The overall stance continues to be “buy on dips”, favouring medium-term strength and higher levels ahead.

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