Nifty likely to inch forward to 26050

Nifty Index opened gap up by 80 points and continued holding on to higher zones. The first half of the day witnessed consolidation but was followed by a good action and the index hit a fresh all-time high of 25956 levels.

It gave the highest ever closing and closed at its higher band with gains of around 150 points. It formed a bullish candle on a daily frame and has been forming highs from the last four sessions. Now it has to hold above 25850 zones for an up move towards 26050 then 26200 zones whereas supports are placed at 25850 then 25750 zones.