Nifty has to hold above 26150 for upmove

Nifty index opened gap up by almost 90 points and picked up momentum from the previous session and escalated throughout the session to touch 26180 zones.

- Motilal Oswal Wealth Management

It recouped the losses of the previous two weeks and closed at its higher band with gains of around 210 points. It formed a bullish candle on the daily frame and has been making higher highs — higher lows from the last two sessions. Now it has to hold above 26150 zones for an up move towards 26250 then 26325 zones while supports have shifted higher to 26050 then 25950 zones.