Nifty Stuck Between Key Support and Resistance Levels - Tradebulls Securities Pvt Ltd
Nifty
Nifty remains sandwiched between two key moving averages, with the 50-WEMA at 24360 acting as the immediate resistance, while the 50- DEMA at 24190 continues to hold as the pivotal support for the coming week. For the index to regain meaningful directional momentum, a decisive breakout and sustained move above the 24350–24400 resistance zone would be crucial. Such a breakout could reinforce the prevailing bullish setup and pave the way for an upmove towards 24740–24950 during the upcoming series. On the downside, a decisive close below 24180 would weaken the current technical structure and increase the probability of an extended corrective move towards 23850. Traders should remain focused on stock-specific opportunities, with fresh aggressive longs considered only after a sustained breakout above 24420. Until then, patience and disciplined risk management remain advisable.
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