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Nifty

Nifty faced supply pressure for the second consecutive session, closing near its 5-DEMA support and forming a ‘Doji’ candlestick, indicating near-term indecision. The daily RSI continues to trend above the 50 mark, suggesting the broader trend remains constructive, while ADX staying below 25 reflects the absence of strong directional momentum. The filling of the Breakaway Gap near 26000, along with the formation of a Morning Star pattern, reinforces the improving bias and confirms a higher base shift from 25740 to 26000. Options data indicates confident writing at the 26000 strike, and the upside range could extend further if early-week unwinding emerges around the 26300 zone amid expiry-related dynamics. A sustained move above 26330 would strengthen the uptrend and open upside potential toward 26920. On the downside, the 26000–26050 zone remains a critical support to preserve trend strength; a break below 25940 could weaken the structure and trigger corrective pressure. Given the current setup, traders may consider adding aggressive fresh positions above 26050, with periodic reviews and profit-booking zones between 26550 and 26920 for the ongoing series

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