Nifty is set for a gap up opening near 25,200, signaling continuation of its strong upward momentum. The index is now trading close to a crucial resistance zone where intraday direction will be decided based on breakout or rejection.
On the upside, fresh long positions can be initiated around 25,000–25,050, with immediate targets placed at 25,100, 25,150, and 25,200+. A sustained move above 25,250 will further strengthen the bullish sentiment, paving the way for targets at 25,350, 25,400, and 25,450+.
On the downside, support is seen near 24,950. A break below this zone may trigger short positions, dragging the index toward 24,850, 24,800, and 24,750- levels. A reversal short near 25,200–25,150 is also possible if Nifty fails to sustain higher levels, with downside targets of 25,100, 25,050, and 25,000-.
Overall, the bias remains positive with a gap up opening, but traders should stay cautious near resistance zones and manage trades with strict stop-losses. The reaction around 25,200–25,250 will be key for deciding today’s trend.
On the upside, fresh long positions can be initiated around 25,000–25,050, with immediate targets placed at 25,100, 25,150, and 25,200+. A sustained move above 25,250 will further strengthen the bullish sentiment, paving the way for targets at 25,350, 25,400, and 25,450+.
On the downside, support is seen near 24,950. A break below this zone may trigger short positions, dragging the index toward 24,850, 24,800, and 24,750- levels. A reversal short near 25,200–25,150 is also possible if Nifty fails to sustain higher levels, with downside targets of 25,100, 25,050, and 25,000-.
Overall, the bias remains positive with a gap up opening, but traders should stay cautious near resistance zones and manage trades with strict stop-losses. The reaction around 25,200–25,250 will be key for deciding today’s trend.
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📣 Forex Telegram: t.me/tradzoofx
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