Our Services Are

Yesterday, NIFTY opened weak and slipped below the 26,150 level during early trade. It found support near 26,050 and staged a sharp rebound. Although it managed to reclaim 26,150, the index failed to sustain at higher levels and faced renewed profit booking, eventually closing just above 26,050.

Despite Friday’s profit booking, the charts show no signs of a reversal. NIFTY continues to form higher tops and higher bottoms and remains comfortably above the 10DEMA and 20DEMA, keeping the overall trend bullish. We maintain our upside target of 26,277. A sustained breakout above 26,277 could open the door for a fresh leg of rally.

On the downside, support lies in the 26,000–25,900 zone. Long positions may be carried forward with a stop-loss placed below 25,900.