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Yesterday, NIFTY opened on a positive note and moved above the 25,800 mark in early trade. However, it failed to cross 25,900 and witnessed profit booking. Selling pressure intensified once the index slipped below 25,800, dragging it close to the 25,600 level. A smart recovery in the last hour helped NIFTY close above 25,700.

NIFTY tested its 50-DEMA, placed near 25,900, but was unable to cross it, leading to renewed selling pressure. The index now faces strong resistance in the 25,900–26,000 zone, where the 50-DEMA and 20-DEMA are positioned. Hence, fresh long positions should be considered only on a decisive breakout above 26,000.

On the downside, NIFTY has been consistently taking support near its 100-DEMA, placed around 25,600, for the past three sessions. Long positions can be held with a protective stop-loss below 25,600. A sustained break below this level could extend the correction towards 25,325.