Nifty50 holds strong above 25000 after breakout, Doji signals consolidation - Tradebulls Securities Pvt Ltd
Nifty
Nifty50 index continues to display strength as narrow-range Doji sessions follow last week’s breakout from the Inside Bar consolidation, with price action holding firm above the 25000-support base. A cluster of moving averages near 24800, including the 50-DEMA, reinforces this momentum foundation, while the daily ADX, poised to cross the 25 thresholds, signals the onset of stronger directional momentum. On the upside, 25220 emerges as the immediate resistance, and a decisive breakout above this level could swiftly extend the rally towards 25500. Derivative positioning also supports this constructive setup, with Put OI concentration shifting higher from 24500 to 24800, underscoring firmness in the undertone and raising the prospect of short covering if levels sustain above 25000. For September, the outlook remains positive as long as the index holds above the 24880 pivot, with upside potential staying open until a reversal formation develops.
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