Jose Mathew

Momentum indicators remain positive, as the Nifty still trades above both short—and long-term moving averages.

The Nifty technical outlook suggests a potential consolidation phase before a decisive move.

However, the formation of a black candle on the daily chart and the close below the previous day's level signal a potential consolidation phase.

Momentum indicators signal a continued positive trend as the Nifty closed above its short-term moving averages.

Overall market breadth on Wednesday was weak, with 1,734 stocks declining, 879 advancing, and 88 remaining unchanged

From a technical perspective, momentum indicators reflect a negative bias as the Nifty remains below its short-term moving averages.

Traders should remain cautious; and, closely monitor key levels for potential trading opportunities. 

From a technical perspective, momentum indicators signal a bullish trend

For Nifty to maintain a positive trend, it must surpass the intraday resistance level of 25,230. 

The momentum indicators suggest a bullish trend, with the Nifty remaining  above both short-term and long-term moving averages.