Index View

📊 Technical View Trend Context: Nifty had a steady rally from early 2025 until peaking near 26,000. The recent pullback has been controlled, without breaching any major long-term EMAs. Current Setup: Price dipped close to the 24,271 EMA zone (mid-term trend support). The last candle is a green recovery bar forming inside the highlighted box — this is potentially the beginning of a bullish engulfing pattern if the week closes strong. Support Levels: Short-term: ~24,271 (EMA) Medium-term: ~22,425 Long-term: 200 EMA at 20,693 Bullish Signal: Holding above 24,271 could trigger a retest of 25,000–25,500. Bearish Risk: A break below the EMA could accelerate the correction toward 23,600 or even 22,425.