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Nifty

Nifty extended its decline for the fifth consecutive session, slipping below its 20-DEMA support zone near 25,540 and closing beneath it. This move marks a breakdown from the consolidation band of 25820–25550, confirming a short-term weakness within the broader 26050–25050 range. This breakdown indicates that the short-term trend may continue to drift lower, with the trading range likely shifting from 25750–25500 towards 25300. Momentum indicators remain neutral — the RSI continues to hover around 50, while the ADX trends lower, reflecting the absence of any strong reversal signals for now. A mild retracement towards 25450–25300 could be witnessed on immediate basis. However, a sustained break below 25300 may invite a deeper correction towards 25000, thereby delaying the broader uptrend. On the upside, a decisive move above 25650 on a weekly closing basis will be essential to revive bullish momentum. Until then, Nifty is likely to remain fragile and vulnerable to temporary pullbacks that may not have the strength to trigger a sustained breakout rally. Participants are advised to remain cautious in the coming week and adopt a long-short approach to navigate this phase of time and price correction, rather than chasing directional trades.

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