Nifty is poised for a potential breakout above the 25,200 resistance level, according to HDFC Securities’ Nagaraj Shetti. A sustained move above this key hurdle could propel the index towards 25,500-25,600. However, if the upward momentum falters, 24,900 will act as immediate support.
Tech view: Nifty faces resistance from short-term moving averages, forms small negative candle. How to trade tomorrow
After acting as support for months, the 10 and 20-day exponential moving averages (EMAs) have recently been breached. These EMAs now pose resistance around 25,150-25,200,