Nifty 50 stays bullish, holding above 5 and 20 DEMA supports firm - Tradebulls Securities Pvt Ltd
Nifty
Nifty 50 maintained its bullish undertone, continuing its gradual up move while sustaining above the 5 and 20 DEMA supports, which reinforces the strength of the ongoing trend. The index successfully defended the crucial pivot around 25400 by forming a clear Bullish Engulfing pattern on the daily chart, and the subsequent follow-through has confirmed this level as a strong demand base. The recent recovery above 25800 was supported by healthy market breadth, indicating broader participation in the up move. Going ahead, Nifty faces immediate resistance near 25850, with a stronger supply zone placed between 25900 and 26000, which could restrict near-term upside unless accompanied by higher volumes and fresh long build-up. As long as the index holds above 25400, and more tactically above 25640 on an intraday basis, the bullish structure remains intact; however, a decisive break below 25400 would negate the positive setup. Fresh aggressive long positions are better considered only on a breakout above 25850 and a sustained close above 26000, which could pave the way for an extension toward the 26300–26400 zone in the current series
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