Nifty slips below 50 DEMA at 25,900, extends fall toward key 25,700 zone - Tradebulls Securities Pvt Ltd
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Nifty
Nifty has slipped decisively below its 50 DEMA support at 25900 and extended the decline toward its make-or-break zone of 25,700. This breakdown is accompanied by a negative crossover in short-term averages, indicating scope for further weakness. The 25900–26050 band has now turned into a stiff resistance area, while the next support is seen in the 25550– 25430 zone. The options band also reflects a lower shift, now placed between 25950 and 25500 for the week. The market texture has turned neutral from positive, and only a close above 26130 would signal a revival in trend strength. Traders may consider fresh long positions only above 26130. Until then, a long–short strategy is advisable as the index oscillates within the 26050–25430 range
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