Nifty is making lower low and lower high suggesting downward trend - Tradebulls Securities Pvt Ltd
Nifty
Nifty is making lower low and lower high suggesting downward trend. Nifty has taken support arount its falling wedge pattern.24700 and 25000 continues to remain hurdle on the upside while downside 24200 and 24000 remains the support. The 5-DEMA support now stands at 23,300. Options data highlights key support zones between 24,000 and 23,800, with additional cushioning down to 23,500, while the upside remains capped at 25,000. Sectoral divergence persists, with defensive stocks showing resilience, whereas cyclicals remain under pressure. Given the event-driven volatility, it’s ideal to stay nimble and deploy trades cautiously on either side until the budget is fully unveiled. Monitoring price action at key levels will be crucial, with the historical average range for this event indicating an average price variance of 2.4%
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