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Nifty trade setup points to cautious start as derivatives data highlights key levels
Nifty faces a cautious start as weak global cues weigh, while options data highlights 26,000 as key support and 26,500 as resistance for the near term.
Market signals suggest a cautious opening for Indian equities as GIFT NIFTY traded around 80 points lower, reflecting weak global cues. Despite NIFTY50 closing above 26,000 after a sharp rebound last week, US markets ended lower on valuation concerns in AI stocks. Options data shows strong support at 26,000 and resistance at 26,500 for the current expiry. Technically, the index is consolidating, with analysts watching 26,200 as a trigger for renewed upside momentum.