Nifty has closed below its short term moving average of 14 and 21 EMA showing weakness - Tradebulls Securities Pvt Ltd
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Nifty
Nifty has closed below its short term moving average of 14 and 21 EMA showing weakness. A sustained follow-through above 26330 would significantly strengthen the ongoing uptrend. On the downside, the 25800 zone remains a critical support to preserve trend strength. While a decisive breakout above 26220 would reinstate the pathway toward 26330, a breakdown below 25800 would weaken the setup and expose the index to corrective pressure. Given the prevailing technical configuration, traders may consider trimming fresh long positions and wait for corrective trend to take support near its upward trend line around 25800. Breach below 25800, could open doors till 25500 and 25250.
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