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Nifty

Fresh breakout momentum was evident in yesterday’s session as the Nifty50 galloped towards the 25500 zone and managed a close above it. This strong price action — decisively surpassing the 25500 resistance — confirms a renewed conviction move towards the 26000 zone, with an intermediate swing level near 25,680. The index showcased resilience by rebounding from its recent dip towards the 20-DEMA support at 25060, closing above its 5-DEMA at 25210 for the second straight session — a clear revival of bullish momentum. Trend strength indicators continue to stay comfortably in the buy zone, while an ADX reading near 25 signals improving momentum. A decisive move above 25700, particularly with rising volumes, could trigger short covering and open the path towards the 26000–26500 range. On the derivatives front, the options base has shifted higher from 25000 to 25500, indicating stronger support. Resistance now lies around 25680 and a major congestion zone near 26000. Overall, a close above 25170 reaffirms the bullish setup, and the breakout above 25500 strengthens the medium-term uptrend. The strategy remains “buy on dips,” with a revised stop loss below 25170 and upside targets of 26000–26500 in the near term.

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