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Nifty

Recovery on the final trading day of the week following the sharp decline helped restore stability above the 25400-support zone. The bullish undertone was briefly threatened as the index failed to attract buying interest near higher levels and slipped below the immediate swing support at 25640, which accelerated the decline. However, the index successfully defended its major demand zone around 25400. Earlier, this pivotal level had been reinforced by a clear Bullish Engulfing pattern on the daily chart, with subsequent follow-through validating it as a strong demand base. On the downside, a decisive break below 25400 could expose the index to further weakness toward the 25040 support. On the upside, the convergence of multiple moving averages near 25670 now acts as a key hurdle for any immediate relief rally. A sustained move above 25700 would be the first signal of trend continuation, with interim resistances placed at 25850 and 26000 during the week. From a structural perspective, as long as the index sustains above 25400—and more tactically above 25640 on a weekly closing basis—the broader bullish setup remains intact. Conversely, a clear breach below 25400 would negate the positive bias. Fresh aggressive long positions are advisable only on a decisive breakout above 25750, which could revive momentum and open the upside toward the 26000–26400 zone.

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