Nifty closing above 25,500, where, market internals reflect a bullish undertone - Religare Broking Ltd
Market Outlook
Nifty closing above 25,500, where, market internals reflect a bullish undertone. The Net Tug-of-War indicates Bull Dominance at 55.49%, driven by strong contributions from HUL, INFY, and RIL on weekly basis. The broader structure suggests a Bull Bias, though signs of selective profit booking persist. On the derivatives front, the 26,000 Call strike witnessed the highest Call OI build-up, indicating a potential short-term cap, while 25,400 emerged as strong support with the highest Put OI concentration. Notably, unwinding at the 25,500 and 25,600 Call strikes further clears the path for an upside continuation
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