Yesterday, NIFTY opened on a positive note and tested the 26,000 mark in early trade. Thereafter, it consolidated within a narrow range of 26,000–25,900 for most of the session and eventually closed above 25,950.
NIFTY continues to consolidate at higher levels while trading above its key moving averages. The index maintains a structure of higher tops and higher bottoms, reflecting sustained positive momentum. With this setup intact, we maintain an immediate target of 26,150, and above that, the index could advance towards 26,250 in the near term.
On the downside, the 25,800–25,700 zone will act as an important support area. Long positions can be maintained with a protective stop-loss below 25,700.
| Open | 25997 |
| High | 26009 |
| Low | 25899 |
| Close | 25953 |
| S 1 | 25899 |
| S 2 | 25844 |
| R 1 | 26008 |
| R 2 | 26063 |
| Action | SL | TGT |
|---|---|---|
| Buy above 26010 | 25924 | 26150 |
| Sell below 25790 | 25861 | 25650 |