Nifty stayed below 26050 resistance, consolidating between 26050–25850 -Tradebulls Securities Pvt Ltd
Nifty
Niftys movement remained capped below 26050, a key resistance zone for the week. The index continues to trade within the expected consolidation range of 26050–25850, reflecting short-term indecision after a strong 14-session bullish streak. Despite the pause, Nifty is still holding above its 5-DEMA, which acts as an important pivot to sustain buying interest. However, yesterday’s close below 25929 could invite a short-term correction towards the 20-DEMA support near 25650 if a follow-through decline is seen in today’s session. Momentum indicators RSI and ADX remain neutral, suggesting no major reversal signals. A brief consolidation or mild retracement towards 25650–25500 could help form a higher base before the next upward leg. As long as Nifty holds above 25650, the broader bullish structure stays intact. Once consolidation matures, potential upside targets are seen at 26340–26500. The overall stance remains “buy on dips”, favouring medium-term strength and higher levels ahead.
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