Nifty again back towards the upper rangeNifty’s recent rise can be attributed to short covering ahead of the monthly expiry, which often results in a surge as traders close their short positions.
Currently, the index faces a strong resistance zone around 25,000–25,100. A clear move above this range could indicate a trend change or a shift towards a more bullish outlook. If Nifty does not decisively cross this resistance, the market is expected to remain neutral to sideways, meaning price action could stay range-bound without a clear direction.
Additionally, 24,600 will act as a strong support level. As long as Nifty stays above 24,600, market sentiment should remain stable, supporting a constructive stance. A break below this level could signal increased caution.
Summary:
Rise driven by short covering ahead of expiry.
Strong resistance at 25,000–25,100.
24,600 will act as strong support.
Above 25,100: Trend change or bullish breakout likely.
Below 25,100: Market remains neutral/sideways.
Above 24,600: Sentiment stays steady; below may warrant caution.
Unless Nifty crosses above the resistance zone or drops below strong support, the outlook remains stable and sideways.
