IGI Logo

Nifty

Nifty decline below the 5-day DEMA and marginal breach of the 200-week WEMA have weakened the immediate recovery outlook. However, the daily Inside Bar and progressing positive RSI divergence leave room for a relief bounce, subject to price confirmation. A sustained move above 22520 could improve sentiment and open the way towards 22800, while a decisive break below 22200 may expose 22050.Maintain a cautious, level-based approach and avoid aggressive directional positions until Nifty confirms a breakout from the Inside Bar. Conversely, a decisive break below 22,200 may create fresh short-selling opportunities towards 22050, with 22000 as the next major reference. Monitor price behaviour around the 200-week WEMA, along with changes in Call/Put OI and intraday momentum, for confirmation. Given the weak near-expiry PCR of around 0.60, prioritise capital preservation, avoid chasing opening volatility and favour selective stock-specific trades with favourable risk-reward setups. The immediate focus is whether Nifty can reclaim the long-term moving average or whether sustained weakness triggers another leg of selling. Traders should adopt a cautious, confirmation-led approach, monitor the Inside Bar breakout and changes in Call/Put OI, and avoid chasing early-session moves.

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimerg