The has displayed a red doji candle on the daily chart, suggesting hesitation after a strong rally earlier this month. Analysts see near-term weakness, though the broader structure remains bullish.
According to Nagaraj Shetti of HDFC Securities, “Nifty is trading near the lower end of its 26,100-25,700 range. If it dips below 25,700, strong support is expected around 25,500, from where a bounce could emerge.”
As long as Nifty stays above 25,500, traders can maintain a buy-on-dips strategy, with resistance near 26,000-26,100.
