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Nifty

Nifty delivered a strong performance last week, successfully closing above the key hurdle at 26,050. The up move was jointly supported by IT and Banking stocks—an encouraging alignment that reinforces the ongoing bullish sentiment. The index also registered an intra-week high above 26200 ahead of the monthly expiry. A sustained push above 26100 is likely to trigger momentum-driven short covering, paving the way for an upside toward 26330 for this week. The support base remains firm in the 26050–26000 zone for the final leg of the November series. On the downside, 25940 now serves as the trailing stop-loss support, while 25830 remains the structural support level—critical to maintaining the broader bullish stance for the next few weeks. Options data further suggests a strong base forming around the 26000 mark, with resistance zones gradually shifting higher toward 26500 for the upcoming series. The overall setup continues to indicate strengthening bullish traction. Traders may continue to hold long positions as long as 26050 remains intact, with upside targets at 26330, followed by 26500 for this week.

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