On the upside, immediate targets are seen at 26400 (upper end of the broadening pattern), followed by 27255- 27400 - Tradebulls Securities
Nifty
Nifty looks set for a “Terrific Tuesday” after India sealed a trade deal with the US at an effective 18%, materially lower than peer economies. GIFT Nifty indicates a ~3% gap-up, and if the momentum sustains, Nifty could register a ~1,000-point rebound from its Budget-day low. Technically, yesterday’s Piercing Line candlestick on the daily chart has revived reversal hopes after the sharp Budget-day sell-off, with prices bouncing decisively from the 24700 demand zone. This combination often precedes a short-squeeze, setting the stage for a sharp upside repositioning. For the move to sustain, the index must close above 25585. On the upside, immediate targets are seen at 26400 (upper end of the broadening pattern), followed by 27255- 27400. Options data shows heavy put interest at 25,000, making it a key battlefield zone, while 25,500 call writers risk a squeeze. With FII positioning at ~88% shorts, the setup favours a risk-on rally. Investors can stay constructive, while traders should avoid chasing momentum and use dips to add selectively, watching today’s close closely for confirmation.
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