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Nifty

Nifty started the week on a softer note, slipping below its 5-DEMA support and closing under the key pivot level of 26050 ahead of monthly expiry. With no visible reversal pattern yet, the index may attempt a rebound from the 20-DEMA support zone near 25840. Option data for expiry continues to suggest a broad trading band between 26000–26200, with 26100 acting as the intraday pivot. The level of 25840 remains a crucial structural support, and holding above it will be essential to maintaining the broader bullish trend in the coming weeks. For the December series, option positioning indicates a strong base forming around 26000–25800, while resistance zones are gradually shifting toward 26500, reflecting growing bullish sentiment. The overall setup continues to hint at strengthening upside momentum in the medium term. Traders may continue to hold long positions as long as 25840 remains intact, with upside projections toward 26330, followed by 26500 for the week. However, in the immediate term, the short-term texture remains slightly vulnerable. For today’s expiry session; 26050 remains the critical level to watch, with support stays firm at 25850–25900, with a low probability of meaningful slippage below this zone. On the upside, even a marginal move above 26050 may help Nifty reclaim 26100 on a closing basis and restore confidence in the ongoing bullish structure.

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