Nifty closes above 25,400 for 1st time since June
Nifty just closed above 25,400, and that's caught the attention of foreign institutional investors (FIIs).
They've cut their short positions from a hefty 98% down to 80%, hinting at some serious short covering.
The index is still looking strong, holding above key averages and making higher highs.
Nifty's immediate resistance and support levels
After jumping 1,194 points in just 12 sessions and crossing a major trendline connecting peaks from September 2024 and June 2025, Nifty is now aiming for the 26,600 mark. But first, it needs to break through resistance at 26,000.
On the flip side, support levels sit at 25,508 and around the previous resistance line at 25,450.
Even though Nifty hit a fresh yearly high recently, its gains since last Diwali are up just over 5%—pretty modest compared to bigger jumps in indices like Nikkei and Nasdaq.