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Nifty shows resilience with a buy-on-dips approach; key resistance at 26,350.
Summary
The Nifty index closed the week with a slight negative bias but showed strength on Friday, indicating a buy-on-dips approach. Key resistance is at 26,350, with a potential rise to 26,600 if the index breaks out.
Key Points
- Nifty closed the week with a mildly negative bias.
- Friday saw a 0.59% surge in Nifty to 26,186.45.
- RSI is at 63, and MACD is positive.
- Key resistance level is at 26,350.
- A breakout could lead Nifty towards 26,600.
Full Article
Nifty ended the week flat with a mildly negative bias, but Friday’s 0.59% surge to 26,186.45 signalled continued strength. Analysts say the index’s bullish structure supports a buy-on-dips approach. With RSI at 63 and MACD positive, momentum remains firm. Key resistance lies at 26,350, and a breakout could take Nifty toward 26,600 as markets eye crucial cues this week
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