Nifty stayed bullish this week, holding above its 5-DEMA support despite brief intraday dips - Tradebulls Securities Pvt Ltd
Nifty
Nifty sustained its bullish momentum through the week, consistently closing above its 5-DEMA support despite brief intraday dips. Price conviction strengthened as the index decisively crossed the 25200 hurdle, backed by higher volumes and supportive trend strength indicators. The ADX, now nearing the key breakout zone around 25, signals improving trend strength — a sustained move above this level could open the path towards the 25500 zone. On the derivatives front, the options base has shifted higher from 24500 to 25000, with resistance seen at 25500 and a major congestion cluster near 26000. Overall, a sustained close above 25170 would confirm a follow-through breakout, reinforcing the ongoing mediumterm uptrend. The preferred approach remains buy-on-dips above 24940, targeting the 25400–25500 band in the coming weeks
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