Yesterday, NIFTY opened on a positive note and jumped above the 26,100 mark in the early trade. It continued forming higher tops and higher bottoms on the intraday chart. NIFTY breached the 26,200 level and made a high of 26,246, before finally ending just below 26,200.
NIFTY continues its Higher Tops and Higher Bottoms structure on the daily chart. It also breached the previous swing high of 26,104 and closed above it, reinforcing the bullish momentum. We maintain our bullish view with an immediate target of 26,277. A sustained breakout above 26,277 could trigger a fresh leg of upside.
On the downside, support has now shifted upward to the 26,000–25,900 zone. Long positions can be maintained with a stop-loss below 25,900.
| Open | 26132 |
| High | 26246 |
| Low | 26063 |
| Close | 26192 |
| S 1 | 26088 |
| S 2 | 25983 |
| R 1 | 26271 |
| R 2 | 26350 |
| Action | SL | TGT |
|---|---|---|
| Buy above 26250 | 25174 | 26400 |
| Sell below 25975 | 26051 | 25825 |