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Nifty

Nifty continued to drift lower during the session but formed an Inverse Hammer candlestick on the daily chart, reaffirming a base near 25740. While the index is holding above its 50-DEMA, reinforcing strong support around 25700, a sustained close above 25930 is essential for any meaningful recovery to unfold. A further follow-through above 26050 remains crucial to re-establish bullish trend strength. Until this resistance zone is decisively breached, the broader structure indicates a corrective pullback within the established range. Momentum indicators remain muted, with the RSI below the neutral 50 mark and ADX easing to 15, highlighting the lack of strong directional conviction. A convincing breakout above 26050 could improve sentiment and open the path toward 26330. Conversely, a breakdown below 25740 would weaken the setup and may expose the index to further downside toward 25440. Given the current setup, traders are advised to remain cautious and adopt a long–short combination strategy, avoiding fresh averaging until clearer directional strength emerges above key resistance levels.

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