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Nifty

Nifty witnessed intraday volatility, slipping towards its 20-DEMA support at 25060 before recovering to close near the 5-DEMA at 25155. Despite brief dips, demand-based buying continues to support the index. Both trend strength indicators remain comfortably in the buy zone, while the ADX, hovering near the 25 level, indicates improving momentum. A decisive move above 25200, especially with rising volumes, could trigger short covering and open the path towards 25500. On the derivatives front, the options base has shifted higher from 24500 to 25000, indicating stronger support, with resistance seen at 25300, 25500, and a major congestion zone near 26000. A close above 25170 would confirm a follow-through breakout, reinforcing the medium-term uptrend. Strategy continues to remain a buy-on-dips approach above 24940, targeting 25400–25500 in the near term

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