Nifty Breakout Confirmed: Targeting 26200

Key Takeaways:

Bullish Breakout: Nifty 50 has decisively broken above the crucial Daily trendline resistance, signaling a strong bullish momentum.

Strong Technical Support: The index is comfortably trading above the 50-EMA, indicating a short-term uptrend.

Recent Price Action: The recent rejection of the 50-EMA and trendline has acted as a catalyst for the current uptrend.

Target Price: Based on the current momentum and technical indicators, a target of 26200 seems achievable.


Risk Management: Proper risk management is crucial. Avoid overleveraging and consider using stop-loss orders to limit potential losses.


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Disclaimer:

This analysis is for educational purposes only and should not be considered as financial advice. It is important to conduct your own research 1 or consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results