As we mentioned, NIFTY is trading above the key 25,930 pivot, which keeps the short-term bullish attempt alive. However, the index is still inside a broader downtrend, so this move should be seen as a breakout attempt, not a confirmed reversal.
A strong, volume-backed break above the falling trendline can shift sentiment to bullish and may pull the price toward 26,050, a near-term supply zone and logical relief-rally target for F&O traders. Failure to hold above 25,930 would invalidate the bullish view for some more days, and get back to the demand zone again.
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