Yesterday, NIFTY opened on a negative note but found support near the 25,600 mark and rebounded sharply. It regained the 25,700 level and eventually closed above it.
NIFTY continues to trade above the 10-DEMA and 20-DEMA, positioned in the 25,650–25,700 range, indicating sustained positive momentum. Hence, we maintain a bullish outlook with an immediate target of 26,000.
On the downside, the 25,600–25,500 zone will act as an important short-term support area. Long positions can be maintained with a protective stop-loss below 25,500.
| Open | 25637 |
| High | 25764 |
| Low | 25570 |
| Close | 25725 |
| S 1 | 25609 |
| S 2 | 25492 |
| R 1 | 25803 |
| R 2 | 25880 |
| Action | SL | TGT |
|---|---|---|
| Buy above 25775 | 25700 | 25925 |
| Sell below 25490 | 25561 | 25350 |