📊 Nifty Analysis: Key Resistance at 26,278 — Big Move Loading? (Updated Wave Outlook)

The Nifty 50 index is at a crucial turning point, trading right inside the (iii) wave zone as per the current Elliott Wave structure. With price action approaching a major resistance cluster, traders should prepare for a powerful move—either a breakout rally or a healthy correction before the next leg begins.

In this post, we break down the key levels, wave counts, support zones, and possible price paths over the coming sessions.

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🔍 Current Market Structure

Nifty is now trading inside the third wave [(iii)], which is typically the strongest and most explosive part of an Elliott Wave cycle. Price is inching toward a major supply zone at 26,278, a level that has acted as a significant hurdle.

This resistance will decide whether Nifty will continue its upward impulse or retrace briefly before launching higher.

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🔥 Bullish Scenario — Breakout Above 26,278

If Nifty gets the required thrust or a gap-up and convincingly breaks 26,278, the market may enter a strong trending phase.

Upside Targets After Breakout

Once 26,278 is crossed:

• 26,755 — Immediate upside & potential (iii) completion

• 27,800 — Key wave (iv)/(i) reaction zone

• 28,255 — Major parallel channel resistance

• 29,180+ — High-probability wave (v) zone

A breakout here typically confirms the strength of wave (iii) and opens the path for extended upside momentum.

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📉 Bearish Scenario — Rejection at 26,278

If Nifty is unable to break through the resistance, a short-term pullback may occur.

Expected Correction Levels

• 25,855 — Strong support zone

• 25,700 — Rising channel base

This correction would still be structurally bullish, forming wave (iv) before a strong rally begins. A sharp thrust or gap-up after this pullback is likely as wave (v) unfolds.

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📌 Summary

• 26,278 is the key inflection point.

• Breakout Scenario:
  👉 26,755 → 27,800 → 28,255 → 29,180+

• Correction Scenario:
  👉 Dip towards 25,855–25,700 before a big upward thrust

• Market is still bullish unless 25,700 breaks decisively.

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📈 Final Outlook

Nifty is preparing for a big move. Whether it triggers immediately via a breakout above 26,278 or after a minor correction, the broader trend remains positive as long as higher lows are respected.

Stay focused on the key levels, watch for rejection candles or a gap-up breakout, and manage your trades accordingly.

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