Nifty holds 22,640 resistance; Nuvama Holds Breakout

Nifty tested the 22,640 resistance at the open yesterday (high 22,650) but could not sustain it. It slipped through the 22,490-22,420 pivot cluster, reached the 22,350 support and closed near 22,317. RSI at 34.82 is below the midline, reflecting soft momentum, while the falling trendline above remains intact. GIFT Nifty is around 50 points higher as of this writing, with Brent and US yields easing, which may be mildly supportive for sentiment. Resistance: 22,570 / 22,780. Pivot zone: 22,480-22,400. Support: 22,220 / 22,090. Sustaining above 22,480 could take the index towards 22,570. If 22,480-22,400 keeps capping the upside, a move towards 22,220 may be on the cards.

(4H) has moved out of a multi-month triangle. It broke above the falling trendline on a visible volume surge, retested the line near 1,770-1,800, and is now at 1,878 with RSI at 64.25. The recent high near 1,885 is the immediate hurdle, followed by 1,960-2,000. Support sits at the retest zone of 1,700, and the triangle breakout stays valid as long as price holds above it. A breakout backed by volume and a successful retest of the old trendline adds weight to the move, even when the broader index stays range-bound. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.