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The index is expected to get a firm direction only after it convincingly breaks the 25,600-25,900 range on either side.
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Consolidation is expected to continue until the Nifty 50 convincingly surpasses the 25,900–26,000 hurdle.
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The formation of a Piercing Line pattern raised hopes for a continuation of the uptrend; however, momentum indicators still need to align with the bulls for a sustained market uptrend.
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Experts expect bears to maintain the upper hand, with the possibility of further consolidation over the next few sessions.
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The rebound may be possible, but sustainability is the key to watch. If the index sustains below the 50 DEMA (25,900), the downward journey may extend toward 25,700, followed by 25,500. However, on the higher side, 26,000 is expected to act as resistance.
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Consolidation with range-bound trade is expected to continue for a few more sessions before the index stabilises and rebounds.
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If the Nifty 50 sustains below 26,200, the consolidation may continue, with the crucial support of 26,000 likely to be tested in the next few sessions, as a decisive fall below this level could bring bears into action. However, the 26,300–26,400 zone is expected to act as a resistance area.
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As long as the Nifty 50 holds above 26,200, the possibility of a rebound towards the 26,400–26,500 zone cannot be ruled out. However, a decisive break below this level could push the index into a consolidation phase, with 26,000 emerging as a crucial support.
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The Nifty 50 needs to decisively surpass 26,350 for a move towards 26,500–26,700. Until then, it may consolidate with range-bound trading, with the 26,100–26,000 zone acting as a key support, according to experts.
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Experts believe the Nifty 50 is expected to give a strong breakout above 26,200 and march toward the 26,350–26,400 zone in the upcoming sessions. Until then, minor consolidation may continue, with immediate key support placed in the 26,050–26,000 zone.
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As long as the Nifty 50 sustains above 26,000, 26,200—the immediate key resistance zone—remains the level to watch. Holding above it can open the door for a new high.
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In case of rebound, an upward move toward the 26,100–26,300 zone is possible on the Nifty 50. However, failure to confirm a rebound in the following session could drive the index down toward the 25,800–25,700 zone, experts said.
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The next support is placed at the 50 EMA (25,830), followed by 25,726 as a key support zone. If the Nifty 50 breaks below 25,726, the higher high–higher low formation could get negated and bears may take control.
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If the index falls and sustains below the immediate key support of the 26,000–25,950 zone, selling pressure may widen; however, holding above this zone could take the index toward the 26,100–26,150 zone. The trading range for the next couple of sessions could be 25,950–26,300.
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According to experts, the consolidation may continue for one or two more sessions; however, they remain hopeful of an upward journey toward the 26,300 and 26,500 levels in Nifty 50 in the short term, given the positive technical and momentum indicators.
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The immediate hurdle is placed at 26,200, and sustaining above it is required for a sharp market run. Until then, consolidation may be seen in the Nifty 50, with immediate key support at 26,000.
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If the Nifty 50 reclaims and sustains above 26,200, a move toward the record high of 26,326 cannot be ruled out in the upcoming sessions. The immediate and crucial support is placed at the 26,000 zone, according to experts.
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Hence, if the Nifty 50 maintains its upward journey and sustains above the 26,000 zone, the 26,200–26,300 levels will be crucial to watch in the upcoming sessions. However, the 25,800–25,700 zone is expected to act as a key support, according to experts.
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If the Nifty 50 rebounds, the 25,900–26,000 zone can act as a hurdle on the upside; however, a decisive fall below 25,750–25,700 could open the door to the 25,500–25,450 zone, experts said.
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The 25,750–25,700 is expected to be the immediate key support for the Nifty 50; a fall below this zone could drive the index toward 25,500, the crucial support. On the higher side, 25,950–26,050 is expected to be the resistance zone, and sustaining above it could open the door for 26,300, experts said.
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As long as the Nifty 50 trades below 26,100, consolidation may continue with support at 25,750–25,750. However, a convincing move above this level could drive the index toward the 26,200–26,300 zone, experts said.
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If the Nifty 50 reclaims and sustains above 26,032, a rally towards 26,200–26,300 cannot be ruled out in the upcoming sessions. However, until then, it may consolidate, with support placed in the 25,750–25,700 zone, according to experts.
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Sustaining above 25,950-26,000 levels can open the door for 26,200–26,300, but a decisive fall below them can raise the possibility of consolidation in the Nifty 50, with support placed at the 25,750–25,700 zone, according to experts.
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For the upside to continue from here, the Nifty 50 needs to surpass and sustain above the 25,950–26,000 zone to move upward toward 26,200–26,300 levels. Until then, it may consolidate, with immediate support at 25,700.
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The Nifty 50 managed to defend the 50-day EMA (25,700) for another session, but a fall and sustained close below this level in the coming sessions could strengthen the bears and open the door for a decline toward 25,500, the key support zone.
