Nifty registered a strong intraday and closing breakout above the 25180 hurdle, reinforcing bullish sentiment - Tradebulls Securities Pvt Ltd
Nifty
In yesterday’s session, Nifty registered a strong intraday and closing breakout above the 25180 hurdle, reinforcing bullish sentiment. The index confidently extended gains toward the 25300 mark, signaling the end of its prolonged consolidation phase within the 24700–25200 range. This decisive breakout opens the door for the next leg of upside momentum, with near-term targets placed at 25555–25630. A bullish crossover of short-term moving averages near 25060 further confirms trend strength and reflects an upward shift in the support base from 24500 to the 25000–24800 zone. Options data indicates strong support at 25200 and 25000 Put strikes, while upside may face resistance near 25500, with an intermediate cap at 25300.Momentum indicators support the bullish setup as daily RSI is sustaining above 50 and has crossed its previous swing high while rising ADX signals strengthening trend momentum. Macro tailwinds like easing Israel–Iran tensions and a 13% slide in Brent crude to below $67/barrel also support positive sentiment. A further drop in crude toward $64 and eventually $44 in coming months could provide an added tailwind. For the Day traders should watch for a break above 25320 in the first hour, which could trigger a short-covering-led rally. Key support remains at 25200, acting as a crucial pivot for option writers.
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