Nifty struggling to break above 25,100 for uptrend, traders advised to watch for breakout

From Google: 2024-08-28 09:02:50

The Nifty is struggling to break above 25,100 to continue its upward trend in the stock market. Traders are advised to watch for a decisive move above this level to confirm the uptrend on Thursday.

Technical analysis indicates that the Nifty is facing resistance around the 25,100 level, and a breakout above this point could lead to a sustained uptrend in the market.

Key support levels for the Nifty are seen at 24,700 and 24,500, while resistance levels are around 25,100 and 25,250. Traders are advised to keep a close eye on these levels for potential trading opportunities.

Major stock indices such as the Sensex and Nifty are facing a critical juncture as they hover near key support and resistance levels. Traders are advised to remain cautious and watch for a decisive move in either direction for potential trading opportunities.

Overall market sentiment remains mixed as traders weigh geopolitical tensions and upcoming economic data releases. Investors are advised to stay informed and be prepared to act on market movements as they occur.



Read more at Google: Stock Market Highlights: Nifty needs decisive move above 25,100 for uptrend. Here’s how to trade on Thursday – The Economic Times