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Yesterday, NIFTY opened on a negative note and slipped below the 25,900 mark in early trade. It began forming lower tops and lower bottoms on the intraday chart and nearly tested the 25,750 level before finally closing above 25,800.

NIFTY witnessed a mild correction and moved below the 25,900 level. The index now has strong support in the 25,700–25,600 zone, where the 10-DEMA and 20-DEMA are positioned. As long as this support holds, long positions can be maintained with a stop-loss below 25,600.

On the upside, NIFTY faces resistance near 26,000. However, the broader market undertone remains bullish, and we maintain a positive view with a target of 26,150.