- The NIFTY index opened the week on a cautious note at 25,005.35 and remained under pressure for four consecutive sessions, reflecting profit booking and a strong presence of sellers. However, it saw a modest recovery on the final trading day, aided by improved global sentiment as U.S. Treasury yields eased. The index ultimately settled at 24,853.15, marking a weekly decline of 0.67%.
- On the daily chart, a bullish candlestick pattern has formed, indicating a possible return of buying interest. This view is reinforced by the moving average indicator, with the index trading above its 20-day EMA and taking support at that level, suggesting a positive short-term outlook.
- The overall trend remains bullish as long as the index holds above 24,500. Traders should monitor key support levels at 24,500 and 24,200, while resistance is likely to be encountered around 25,000 and 25,100.
| LTP | R1 | R2 | S1 | S2 |
|---|---|---|---|---|
| 24,853.15 | 25,000 | 25,100 | 24,500 | 24,200 |
Wahid Mohd Hussain Ansari
Digitally signed by Wahid Mohd Hussain Ansari Date: 2025.05.26 09:18+05:30
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