Nifty Stabilises Near 22,500 but Faces 20-DEMA Resistance - Tradebulls Securities Pvt Ltd
Nifty
Nifty remains in a fragile stabilisation phase. Yesterday’s recovery from the 22500 area indicates buying interest at lower levels; however, the index has yet to reclaim its 20 DEMA resistance. A sustained move above 22865 is essential to strengthen the rebound and open the way towards 23000–23100. Momentum indicators remain weak, with RSI holding below 50, while ADX has moved above 25, signalling strengthening trend intensity and raising the risk that the prevailing downtrend could persist. A meaningful reversal therefore requires follow-through buying and improving market breadth. On the downside, failure to hold 22,500 would weaken the stabilisation attempt and bring 22370 into focus. A decisive closing break below 22370 could accelerate selling towards 22060. The broader November expiry range of 22060–23350 remains relevant, with a decisive breakout beyond either boundary potentially signalling a stronger directional move. Trading stance: Avoid chasing intraday breakouts and seek a convincing close with followthrough before increasing directional exposure. Until key resistance is reclaimed, maintain a defensive stance and prioritise capital protection.
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