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Yesterday, NIFTY opened on a positive note and moved above the 25,550 mark. However, it failed to sustain at higher levels and witnessed profit booking. The index slipped to test the 25,400 level, but saw some recovery in the last hour of trade and eventually closed just below 25,500.

NIFTY continues to struggle to sustain above the 20-DEMA, placed near 25,600, which warrants a cautious near-term approach. On the upside, the 25,650–25,750 zone will act as a strong resistance area. Fresh long positions should be considered only on a decisive breakout above 25,750.

On the downside, the 200-DEMA, positioned near 25,250, will serve as an important support level. Long positions should be protected with a strict stop-loss below 25,250.