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On Friday, NIFTY opened on a negative note and fell below the 25,800 mark in early trade. It traded with a negative bias through the first half of the session. However, it found support near 25,750 in the afternoon and recovered smartly in the last hour of trade, finally ending above the 25,900 mark.

NIFTY continues to form higher tops and higher bottoms and is comfortably trading above the 10-DEMA, placed near 25,750. This keeps the short-term structure positive, and therefore we maintain a bullish outlook with an upside target of 26,100.

On the downside, the 25,750–25,650 zone will act as an important support area, as both the 10-DEMA and 20-DEMA are positioned in this region.