Nifty could now face resistance from 26250 while 25611-25791 band could offer support - HDFC Securities
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Daily Technical View on Nifty
* Nifty ended on a flat note in a volatile session on September 24 after crossing 26,000 for the first time.
* At close, Nifty was up 0.05% or 11.8 points at 25950.9.
* Cash market volumes on the NSE were 11.4% higher than the previous session.
* Smallcap index ended marginally in the green even as the advance decline ratio dipped to 0.96:1.
* Nifty formed a spinning top like pattern on Sept 24 after remaining in a 125 points range.
* Nifty could now face resistance from 26250 while 25611-25791 band could offer support.
* Metals and Power stocks closed on a strong wicket and the same are expected to perform good in the coming days.
* For last four trading sessions, Nifty IT index has been finding support at same level.
* Traders can protect trading longs in IT index with the stoploss of 41600.
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