NIFTY Intraday View: Range-Bound Bias with Cautious Tone (CMP: 26,042)

On friday , NIFTY 50 ended the session at a CMP of 26,042, witnessing mild profit-taking after failing to sustain near higher levels. The intraday chart reflects a range-bound and choppy structure, with selling pressure emerging near the 26,150–26,200 zone, indicating supply at higher levels. For the near term, 26,100–26,150 remains an immediate resistance band. A decisive move above this zone on strong participation could revive short-term momentum and push the index towards 26,250. However, repeated rejections from this area suggest traders remain cautious at elevated levels. On the downside, 25,950–25,900 is acting as an intraday support, followed by a stronger base near 25,800. As long as NIFTY holds above these levels, deeper correction risk remains limited. A breakdown below 25,900 could lead to further intraday weakness towards 25,800–25,750. Overall, the intraday bias FOR NEXT SESSION, remains neutral to mildly cautious, favouring sell-on-rise trades near resistance and selective buying on dips near support until a clear directional breakout emerges. Disclaimer: This article is for informational purposes only and does not constitute investment advice.