Nifty commenced the week on a strong footing, decisively negating last week's Bearish Belt-Hold candlestick formation - Tradebulls Securities Pvt Ltd
Nifty
Nifty commenced the week on a strong footing, decisively negating last week's Bearish Belt-Hold candlestick formation. The index not only surpassed its previous high but also closed convincingly above the crucial 24420 hurdle, reaffirming the underlying bullish momentum. The immediate focus now shifts to sustaining above the 24420-breakout zone which would likely attract renewed momentum buying and opening the path towards 24750, followed by the Bullish Flag continuation pattern and rising channel target zone around the 24950–25000 zone for this series. On the downside, the recent gap support at 24250 assumes significance and should now act as a trailing stop-loss for momentum-based long positions, while the broader support zone remains placed at 24000. Only a sustained breach below this level would weaken the prevailing bullish structure and raise the possibility of a deeper corrective phase. Overall, strengthening trend indicators, a gap-supported breakout from a Bullish Flag continuation pattern, and favourable July seasonality continue to reinforce the positive bias. Hence, the preferred strategy remains buy on every dip as long as Nifty sustains above the 24000-support zone, with 24250 serving as the revised trailing stop-loss for fresh momentum-driven long positions.
https://vid.investmentguruindia.com/report/2026/2026-Graph/tradebull_market_07.2026_1.jpg
