Nifty50 closed at 25585, breakout above 25500 signals bullish momentum -Religare Broking Ltd
Market Outlook
The Nifty 50 closed at 25,585, registering a positive session with an intraday gain of over 1%. On the daily chart, the index witnessed a breakout above the falling trendline resistance at 25,500, indicating the potential for a bullish continuation in the near term. On the derivatives front, fresh Put OI build-up was observed at the 25,500 strike, suggesting that this level has now turned into immediate support after acting as a resistance earlier. On the upside, 25,800 and 26,000 remain key resistance zones, with major Call OI concentration.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
More News
Daily Market Commentary : The broader market traded mixed Says Mr. Siddhartha Khemka, Motila...
