Nifty continues to witness dip buying and is now headed towards 26250 in the near term - HDFC Securities
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Daily Technical View on Nifty
* Nifty 50 recovered from day's low in the last leg of the trade to end Sept 25 at record close for the fourth consecutive session.
* At close, Nifty was up 0.25% or 63.8 points at 26004.2.
* Cash market volumes on the NSE were 12.6% lower compared to the previous session.
* Broad market indices ended in the negative even as the advance decline ratio fell to 0.68:1.
* Nifty broke out of the previous two days range forming an engulfing bull pattern on Sept 25 though its position at the highs is not ideal.
* Nifty continues to witness dip buying and is now headed towards 26250 in the near term. 25611-26791 band could offer support.
* Realty, Metals and Private banking continued to perform well and same is expected to continue.
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