Nifty extends bullish momentum, closes strong above 25000 mark - Tradebulls Securities Pvt Ltd
Nifty
Nifty extended its bullish momentum, gaining 0.77% and closing confidently above the 25000 mark, validating the Ladder Bottom pattern identified earlier. The focus now shifts to a decisive follow-through breakout above 25170, which remains the key resistance level and could potentially trigger a fresh leg of short covering toward 25300–25500 zones. The underlying sentiment stays constructive as long as the index holds above 24890, a crucial support defined by the confluence of the 50- DEMA, 20-DEMA, and 5-DEMA, marking a strong base for momentum tracking. On the downside, any breach below 24620 would negate the current bullish structure. Broader cues remain mixed with foreign investor outflows and global uncertainty, yet domestic optimism persists—analysts expect Nifty to retest 25400, supported by strength in select large-cap IT & Banking stocks. Overall, a sustained move above 25170 will confirm the breakout and signal the continuation of a medium-term uptrend, while maintaining a buy-on-dips approach above 24890 remains prudent.
Please refer disclaimer at https://www.tradebulls.in/disclaimer
SEBI Registration number is INZ000171838
