Nifty Consolidates Between 50-WEMA and 50-DEMA - Tradebulls Securities Pvt Ltd
Nifty
Nifty has remained sandwiched between the 50-WEMA at 24360 and 50-DEMA at 24180 for three consecutive sessions, reflecting a consolidation phase before the next directional move. A decisive and sustained breakout above the 24350–24400 resistance zone, preferably above 24420, would reinforce the prevailing bullish structure and potentially trigger an upmove towards 24740–24950 during the upcoming series. The macro backdrop remains supportive, with the sharp decline in crude oil prices providing relief to equity sentiment. A sustained break below $84/bbl could further strengthen the bullish setup. On the downside, a decisive close below 24180 would weaken near-term momentum and increase the probability of an extended corrective move towards 23850. Until a confirmed breakout above 24420, traders should remain focused on stock-specific opportunities, while maintaining disciplined risk management and avoiding aggressive directional exposure.
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