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Nifty

Nifty continued to deliver a strong performance as it traded above the 26050 hurdle. It also registered a close near 26200 mark ahead of the upcoming monthly expiry. The slight push towards 26330 could be witnessed going forward while support base remains firm at 26050-26000 for the final leg of the November series. The up move was led jointly by IT and Banking stocks—an encouraging sectoral alignment that supports the continuation of the prevailing bullish tone. On the downside, 25940 serves as the tailing stop loss zone near support, while the structural support is now placed at 25725 which remains critical for preserving bullish trend to stretch its legs further. Options data reflects a firm base around 26000, with weekly resistance zones expected to shift toward 26500. The overall setup continues to signal strengthening bullish traction. Traders to continue long positions until 26050 holds, eyeing 26330 as the first target followed by 26500. Protective stops can be placed at 25940 and trailed higher in line with the trend to maintain effective risk management..

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