NIFTY View For 01/07/2025

Manas Jaiswal Research Analyst Image

Yesterday, NIFTY opened on a positive note but failed to sustain at higher levels, encountering profit booking as the session progressed. It formed a series of lower tops and lower bottoms on the intraday chart, slipping below the 25,600 mark and testing 25,500 before closing just above it.

A Bearish Engulfing pattern has formed on the daily chart, signaling potential short-term weakness. A move below 25,450 could confirm this bearish signal, possibly leading to a further correction towards the 10-day Exponential Moving Average (10DEMA), currently placed around 25,250.

However, if NIFTY manages to reclaim and sustain above 25,600, the recent uptrend may resume. Long positions can be maintained with a strict stop-loss below 25,450. Until a breakdown is confirmed, we maintain our bullish stance with a short-term target of 25,750.

Nifty Imp Levels For 01/07/2025

Open 25661
High 25669
Low 25473
Close 25517
S 1 25437
S 2 25357
R 1 25633
R 2 25749

Actionable Ideas On Nifty for 01/07/2025

Action SL TGT
Buy above 25635 25574 25800
Sell below 25435 25511 25300
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Manas Jaiswal Technical Research Group