Today's Bullish Move Looks Cautious

As per the price and volume analysis I did yesterday, NIFTY was expected to give a dip to the support today and then bounce.

But instead, it moved sharply and closed above a very important resistance level — 25000!

However, I’m not fully confident in this move unless we get a follow-up candle of the same strength tomorrow.

Why?

Because there’s a clear pattern suggesting that Smart Money — or say institutions (and I’m not referring to FII data here; I don’t usually trust that) — sold their positions to retailers. The Retail Index went down even on such a strong up day!

That’s not a good sign for the index in the coming days. I think this will soon reflect as a shakeout in the near term.

Now yes, today’s move was backed by buyers’ data and the trend did turn upward — but the momentum didn’t follow through.

Now let’s check what the data says for tomorrow:

– Pivot has risen to 25018, and PP is still tight
– Support for tomorrow: 25025
– Resistance for tomorrow: 25095

According to the data, the index should stay sideways tomorrow.

However, if any of these levels break, here’s my plan:

1. If 25018 breaks on the downside, I’ll short with targets 24930 / 24850
2. If 25095 breaks on the upside, I’ll go long with a target of 25225

Let’s see how it plays out. I’ll stick to my plan as always — no blind chasing.

BANKNIFTY has broken above its short-term pivot, so I’ll keep my focus there too. Any dip there would be an opportunity to go long.

FnO stocks backed by buyers’ volume:

1. KEI
2. BHARATFORG

Sectors to watch tomorrow – Healthcare and Finance.

That’s all for today. Take care and have a profitable tomorrow!

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📊 Levels at a glance:

- Pivot: 25018
- Support: 25025
- Resistance: 25095
- Downside targets (if pivot breaks): 24930 / 24850
- Upside target (if resistance breaks): 25225
- Pivot Percentile: Tight (range-bound bias)
- Bias: Sideways, watch for shakeout or follow-up confirmation
- Sectors to watch: Healthcare, Finance