The index now faces a critical resistance at 25,585 - Tradebulls Securities Pvt Ltd
Nifty witnessed a sharp swing after breaching the 25,880–25,500 band, with the decline marked by a Bearish Belt Hold candlestick, reflecting strong supply and short-term trend deterioration. The index now faces a critical resistance at 25,585, and any change in trend will be technically valid only if it decisively breaches and sustains above this level on a closing basis. The pattern has emerged near the lower end of a broader Broadening Pattern, a zone that often precedes sharp directional moves, though confirmation of reversal is still awaited on the daily scale. Internal corrective wave structure points to 25,040 as a potential termination zone where demand could overpower supply. Options data indicates a range shift towards 25,500–25,000 for the final leg of the series, with a mild bias suggesting a strong support pocket in this zone, increasing the probability of sharp swings that could culminate in a reversal. A decisive close above 25,585 would revive trend strength and open the door for an upside move towards and beyond 25,880, while failure may keep the index trapped in a volatile, range-bound phase, warranting a cautious approach with focus on mean-reverting trades as long as the broader range holds
.
Please refer disclaimer at https://www.tradebulls.in/disclaimer
SEBI Registration number is INZ000171838
.jpg)
