Nifty extended its decline for the fourth consecutive session, slipping closer to its 20-DEMA support zone near 25540 - Tradebulls Securities Pvt Ltd
Nifty
Nifty extended its decline for the fourth consecutive session, slipping closer to its 20-DEMA support zone near 25540. The index’s movement, however, remained confined within the 5-DEMA and 20-DEMA band of 25820–25550, continuing its expected consolidation within the broader 26050–25450 range. This range-bound behaviour reflects a short-term pause following the recent strong bullish rally. Momentum indicators such as RSI and ADX continue to remain neutral-the RSI hovers around 50, while the ADX trends lower, signaling the absence of any strong reversal cues for now. A brief consolidation or a mild retracement towards 25000–25450 could help the index build a stronger base for the next upward leg. However, a sustained break below this zone could trigger a deeper decline towards 25300–25000, potentially delaying the broader uptrend. On the upside, as long as Nifty sustains above 25650 on a weekly closing basis, the broader bullish structure remains intact. Once the consolidation phase matures, a decisive breakout above 26050 could open the path towards 26340–26500 levels.
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