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Nifty

Occurrence of an Inverse Hammer candlestick pattern indicated exhaustion and a hurdle near the 25170 zone. The highlighted confirmatory close below 25040 was the immediate requisite to validate a near-term corrective phase; however, this move occurred with long wicks, suggesting indecision rather than strong bearish conviction. Despite the short-term softness, any pullback towards 24950 should be viewed as a normal corrective move within the consolidation zone. On the downside, a decisive break below 24620 would invalidate the current bullish setup. Until then, any dips should be considered buying opportunities in the absence of a major reversal pattern. Conversely, a close above 25170 would signal the start of a fresh directional momentum phase, potentially propelling the index towards 25400–25500. While global uncertainties and FII outflows continue to pose headwinds, domestic sentiment remains resilient — led by strength in largecap IT and Banking names. Overall, a sustained move above 25170 will confirm a breakout and reinforce the medium-term uptrend, whereas maintaining a buy-on-dips approach above 24890 remains the preferred strategy.

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