Nifty has confirmed a breakout in line with expectations, supported by strengthening investor confidence - Tradebulls Securities Pvt Ltd
Nifty
Nifty has confirmed a breakout in line with expectations, supported by strengthening investor confidence. The index surpassing the 25000 mark, along with the ADX crossing above 25, signals increasing trend strength and reinforces the possibility of a continued uptrend beyond the 25180 level. A 'Rising Three' candlestick formation on the daily chart further validates the bullish bias, indicating trend continuation. Upon a decisive move above 25180, the next immediate target is seen at 25760. Options data reflects a notable upward shift in the support base—from 24500 to 24700—underscoring growing confidence at elevated levels. On the upside, resistance levels have now broadened toward 25500, with a critical resistance zone between 25630–25760 likely to act as a near-term challenge for momentum traders. From a pattern perspective, the recent price action confirms a breakout from a bullish flag formation, projecting a medium-term target near 26550. However, traders should monitor the 25630–25760 resistance band closely, as it may temporarily stall further gains. Momentum traders may consider accumulating long positions on intraday dips, maintaining a trailing stop-loss below 24650 on a closing basis. A breakout above 25180 could unlock fresh upside toward 25630, and subsequently 25760, while 24500 continues to act as major support.
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