IGI Logo

Nifty

Nifty is consolidating near its 50 DEMA support of 25,040, oscillating within a tight band of 25,230-24,900. The recent Bullish Harami pattern’s effect will only unfold if the index closes above 25,140 on immediate basis. Staying above 24760 suggests early strength, while a RSI bullish crossover on the daily chart hints at potential for directional momentum. However, without confirmation, it's wise for momentum traders to hedge risk with a mix of long and short positions. A breakout above 25,140 could push the index toward the 20 DEMA level of 25,273, a key zone for validating further momentum. For long-term investors, the demand zone between 25,000 and 24,500 offers an attractive opportunity to build positions, especially if the bullish trend strengthens. At this crossroads, a cautious approach, waiting for stronger signals, is advisable before committing to a directional trade.

Please refer disclaimer at https://www.tradebulls.in/disclaimer

SEBI Registration number is INZ000171838