Trade Setup For Dec. 2: Nifty Finds Immediate Support At 26,000 Amid Positive Bias

The NSE Nifty 50 has found support at 26,100–26,000 levels, indicating a strong foundation for potential upward movement, according to Osho Krishan, chief manager of technical and derivative research at Angel One. "Additionally, the pivotal support level identified from the previous week, situated at 25,850, serves as a critical structural base that reinforces investor confidence," Krishnan said. The Nifty has formed a bearish candle with a similar open and high, highlighting profit booking at higher levels near the all-time high, according to Bajaj Broking Research. "Immediate support is placed at the last week breakout area of 26,000-25,800, sustaining above the same will keep the bias positive." On the flipside, 26,300-26,325 is likely to act as a sturdy hurdle, presenting a significant challenge to upward momentum, according to Krishnan. The analyst identified resistance levels at 26,325-26,400 levels. "Going ahead, we expect the index to maintain overall positive bias and head towards 26,500 and then towards 26,800 levels in the coming week being the measuring implication of the recent broader range breakout (26,100-25,400)," Bajaj Broking said. "Going forward, we remain optimistic about the domestic market and expect any dips to benefit the Bulls," Krishnan said. "Additionally, sectoral rotation is evident, and traders should be vigilant on thematic movers to gain an edge in the markets," he added.