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Nifty

Nifty sustained its bullish momentum last week, consistently holding above the 5-DEMA support despite brief intraday dips. After a soft start this week, the index recovered to close back in positive territory above its 5-DEMA level of 25165, showing continued strength. The breakout above 25200 was backed by higher volumes and firm trend indicators. The ADX, now near the key 25 zone, signals strengthening momentum — a sustained move above this could open the path towards 25500. In derivatives, the options base has shifted higher from 24500 to 25000, with resistance at 25500 and a congestion zone near 26000. Overall, a close above 25170 would confirm a follow-through breakout, reinforcing the medium-term uptrend. The strategy remains buy-on-dips above 24940, aiming for 25400–25500 in the coming weeks.

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