Nifty began the week on a weak note but ended the session - Tradebulls Securities Pvt Ltd
Nifty
began the week on a weak note but ended the session with yet another bullish reversal candlestick on the daily chart, reinforcing the pattern of recurring reversals that signal gradual demand emergence near supports and exhaustion of the corrective phase within the broader 25880–25430 band. The key overhead resistance remains at 25880, coinciding with the 50 DEMA, and these bullish signals will gain technical validity only if the index decisively breaches and sustains above this level on a closing basis. Options data indicates a range shift towards 25500– 26000, with a mild bias pointing to strong support near the 25500 zone for the current weekly series, suggesting the potential for sharp swings on either side of the 25880–25500 band during the week. A decisive close above 25880 would signal a revival in trend strength and open the door for an upside move towards and beyond 26130, while failure to reclaim this level may keep the index trapped in a volatile, range-bound phase, warranting a cautious approach with focus on mean-reverting trades as long as the broader range holds.
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