Our Services Are

Yesterday, NIFTY opened on a negative note and slipped below the 25,700 mark in early trade. It started forming lower tops and lower bottoms on the intraday chart and tested the 25,600 level before finally closing below 25,650.

NIFTY has closed below the 50-DEMA, which is placed near 25,650, indicating short-term weakness. The index now has support in the 25,500–25,400 zone, where the 10-DEMA and 20-DEMA are positioned. However, considering the elevated volatility, a cautious approach is advised.

On the upside, the 25,800–25,900 range will act as an important resistance zone. Fresh long positions should be considered only on a decisive breakout above 25,900.