Nifty Data Suggests Next Month is Bullish!The market finally gave traders what they were waiting for – NSE:NIFTY closed above the much-watched 25200 resistance level.
But let’s not celebrate just yet; today’s move was largely driven by short covering.
Sellers still outnumber buyers by nearly 25 million volume, a sign that genuine buying interest hasn’t fully stepped in.
That said, the weakness we saw in the previous sell-off is clearly fading, and momentum is gradually returning to the market.
Today’s candle on Nifty forms a classic liquid bar, suggesting increased participation and possible continuation.
Putting these pieces together, tomorrow could play out as a sideways-to-bullish session.
But the bigger story lies ahead – rollover data hints at a bullish bias for the next series. If the current data holds, we might be looking at Nifty testing 26000 in the coming month.
My broader market view remains bullish.
For tomorrow, Nifty’s range is likely to remain tight:
Support around 25180, Resistance near 25250. A sustained move above 25250 can push us towards 25350.
Sector-wise, I continue to keep a close eye on textiles, NSE:CNXPHARMA , and Auto Components. For now, my capital remains parked in NSE:CNXENERGY , but I’m ready to rotate funds the moment a structural shift emerges in these priority sectors.
NSE:BANKNIFTY , on the other hand, seems far more decisive. Buyers dominated today with 10 million more volume than sellers, and the candle too is a liquid bar – a clear sign of strength. A new high appears just around the corner.
Expected range: Support near 56930 and Resistance around 57275.
As for the trades I got into earlier, they worked out beautifully:
NSE:OLECTRA closed 4.39% higher
NSE:NAVA gained 3.23%
NSE:GODREJAGRO rallied 4.72%
NSE:PARADEEP surged 5.56%
That’s it for today. take care, trade with discipline, and let’s prepare tonight for another profitable session tomorrow.
