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Nifty

Nifty continued to scale higher, closing above the previous session’s close despite experiencing intraday weakness. The week began on a strong footing as the index extended its rally throughout the session, registering yet another solid close. The gap-up opening and its successful sustenance exhibit classic Breakaway Gap characteristics, supported by strong volume participation as the index decisively crossed the 0–2 trendline hurdle. The daily RSI had already signalled a potential reversal with a positive crossover above the 50 mark, further validating the gradual improvement in momentum. This recent price action, combined with key indicators approaching the upper boundary of the prevailing range, raises the probability of a long-awaited directional momentum move. A sustained follow-through above 26330 would significantly strengthen the ongoing uptrend. On the downside, the 26000 zone remains a critical support for maintaining trend strength. The decisive breakout above 26050 has opened the pathway towards 26330, while a breakdown below 25940 would weaken the setup and expose the index to corrective pressure. Given the current technical configuration, traders may consider adding aggressive fresh positions as long as the index sustains above 26050, with review and profit-booking zones placed in the 26330–26550 range for the final week of the current series.

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