showed a remarkable recovery after a short pause at the start of the week, creating a long bullish candle and breaching the previous bearish engulfing high. The index now faces resistance between 25,400-25,500, a zone defined by previous swing highs and trendline barriers.
According to HDFC Securities’ Nagaraj Shetti, a breakout above 25,500 could open the way for 25,700-25,800, while support lies near 25,200.
Momentum indicators are supportive. RSI has bounced back to 60.49, and MACD remains above the zero line, indicating a positive medium-term trend.
A break above 25,450 may extend the recovery to 25,650, with 25,150-200 providing important support.
Analysts expect the ‘buy-on-dips’ strategy to dominate, suggesting fresh long positions around 24,800-25,000 with upside potential toward 25,700.