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Yesterday, NIFTY opened on a negative note and slipped below the 25,500 mark in early trade. It began forming lower tops and lower bottoms on the intraday chart. Selling pressure intensified in the last hour once the index breached 25,400, dragging it down to test the 25,200 level before finally closing just above it.

NIFTY has broken the key support of 25,500 and has nearly tested its 200-DEMA, placed around 25,165. A sustained move below 25,150 could lead to further weakness, with the next major support seen near the 50-week EMA, positioned around 25,000.

On the upside, the 25,400–25,500 zone will act as a strong resistance area. Fresh long positions should be considered only on a decisive breakout above 25,500.