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Technical View: Broader structure remains bullish despite likely near-term consolidation; 200 DEMA key to...
Moneycontrol.com 4 hrs ago·21 Jul 2026, 11:20 am
Stocks Moneycontrol.com
The broader Indian equity market is currently showing a fundamentally positive structure, even as it enters a phase of potential consolidation. This means while the long-term trend remains strong, short-term price action may see some sideways movement or minor corrections as investors digest recent gains.
For investors, this period of consolidation is a normal part of market cycles and does not necessarily signal a reversal. The key technical level to watch is the 200-day exponential moving average (DEMA). If the market holds above this critical support level, it would reinforce the bullish outlook and suggest that the current uptrend is intact.
Moving forward, market participants should focus on volume and breadth. A clean break above recent highs with strong participation would indicate the start of a fresh rally. Conversely, a decisive breakdown below the 200 DEMA could trigger a deeper pullback, making this level a crucial pivot point for the next phase of the market.
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