FIIs turned net buyers in the last trading session, while DIIs were seen booking profits and emerged as net sellers. This shift in institutional activity is encouraging, particularly after Nifty successfully crossed and sustained above its 100 DEMA level of 24,141.
Interestingly, it took nearly 10 trading sessions of sideways consolidation for Nifty to gather enough strength to move above the 100 DEMA. Such prolonged consolidation often acts as an energy-building phase before the next directional move.
The next major hurdle for the index is the 200 DEMA placed around 24,436. Historically, such long-term moving averages are not crossed easily in a single attempt. Therefore, Nifty may spend some time oscillating within the 24,141 – 24,436 zone, repeatedly testing support levels, option writers' comfort zones, and market conviction before making a decisive breakout.
Trading Strategy
As long as Nifty sustains above the 100 DEMA region, the broader structure remains constructive. Any short-term decline towards support levels should be viewed as a buy-on-dips opportunity rather than a trend reversal.
Upside Targets
Target 1: 24,482 – 24,601................ Target 2: 24,955 – 25,137................A successful breakout above the 200 DEMA could accelerate momentum and open the doors for these higher targets in the coming weeks.
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