Yesterday, NIFTY opened on a positive note and moved above the 25,700 mark in early trade. Thereafter, it traded sideways within a narrow range of 25,625–25,725 for most of the session and eventually closed above 25,700.
NIFTY has regained both the 10-DEMA and 20-DEMA, positioned near 25,650, indicating improving short-term momentum. If the index sustains above 25,750, it may move towards 25,900. However, aggressive long positions should be considered only on a decisive breakout above 25,900.
On the downside, 25,400 will continue to act as strong support. Long positions can be maintained with a protective stop-loss below 25,400.
| Open | 25678 |
| High | 25771 |
| Low | 25609 |
| Close | 25713 |
| S 1 | 25624 |
| S 2 | 25535 |
| R 1 | 25786 |
| R 2 | 25860 |
| Action | SL | TGT |
|---|---|---|
| Buy above 25800 | 25724 | 25950 |
| Sell below 25525 | 25701 | 25400 |