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Nifty

Nifty has reaffirmed its strength by reclaiming the 20-DEMA and 5-WEMA on a closing basis. A positive crossover of the daily RSI above 50 adds weight to the ongoing bullish trend. Options data suggests that a sustained move above the 25200 zone could accelerate the rally toward 25500, bypassing intermediate resistance near 25300. On the downside, the 25000–25100 range appears to be a strong writers’ zone, while 25080 emerges as a crucial support—holding above this is essential to sustain momentum. Technically, a breach above 25255 may extend gains to the 25300 zone. Implied volatility continues to trend below the key 12 mark, supporting a steady upward bias. Unless volatility spikes, the trend is expected to remain constructive. The broader range for the week is seen between 24950 and 25900, with a major resistance at 25550. The overall trend remains positive above 24930. For now, traders can retain long positions as long as 25080 holds and look to carry forward additional longs once the index crosses above 25330.

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