Our Services Are

Yesterday, NIFTY opened on a negative note and slipped below the 25,900 mark in early trade. It took support near the 25,700 zone and witnessed a mild recovery from lower levels, eventually ending above 25,800.

NIFTY has broken the neckline of the “Head & Shoulder” pattern, confirming a sequence of lower tops and lower bottoms. Yesterday, it tested the 50-DEMA, which is placed near 25,725. If NIFTY breaks below 25,725, it may extend the decline toward 25,600. The full downside target of the H&S pattern lies near 25,500, and therefore traders should remain cautious.

On the upside, the 26,000–26,100 zone will continue to act as a strong resistance. Fresh long positions should be considered only on a decisive breakout above 26,100.