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Nifty

Nifty ended Monday's session marginally higher, retaining its position above the 25000 milestone after the sharp rally of the previous week. However, the session reflected consolidation rather than a fresh directional breakout. The formation of a small-bodied candle with a long lower shadow indicates buying interest on declines, although weak market breadth suggests that participation remains selective. Daily RSI remains elevated near 78, indicating an overbought setup, while ADX continues to signal strong underlying trend intensity. The broader technical structure remains bullish, with Nifty trading above its key moving averages. However, the stretched momentum warrants caution against aggressive fresh positions at elevated levels. Immediate hurdle is placed around 25150, followed by 25475. A sustained breakout above this zone could revive buying momentum. A decisive move beyond 25500 would provide stronger confirmation of the next leg of the rally. The short-term 5 DEMA, placed around 24680, is the immediate dynamic support.Sustaining above these levels will be crucial to preserve the bullish structure. Traders should maintain a cautiously bullish bias, but avoid chasing gap-up openings or fresh longs near immediate resistance. Prefer selective buying on orderly dips around short-term support, with stronger conviction only after a sustained breakout above 25150 for an extended upmove towards 25475. Traders should trail stop-losses and monitor broader market participation.

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