Nifty 50 Market Structure & Trade Plan for 29th July

🔵 Nifty 50 Analysis

Timeframes Used: 4H, 1H, 15M
Current Price: ~24,674

🧠 Market Context

Price has continued its downward move, breaking below the 24,800 zone, confirming short-term bearish control.

Multiple Breaks of Structure (BOS) observed on 1H and 15M, signaling trend continuation to the downside.

The market is currently hovering around an important support band (24,660–24,700).

Liquidity sweep seen in lower timeframes with wicks below, suggesting caution for shorts right at CMP.

📌 Market Structure (Higher TF)

4H Chart:

Clear lower highs and lower lows → Bearish structure intact.

Key supply zone overhead: 24,880–25,000.

Immediate support: 24,640–24,670; next major demand at 24,410–24,450.

1H Chart:

Multiple failed attempts to reclaim 24,880.

Consolidating in a bearish channel with FVGs left above.

Any pullback to 24,750–24,800 is likely to be sold into.

🗺️ Key Zones

Immediate Resistance (Supply):

24,750–24,800 (intraday supply with FVG + OB alignment)

24,880–25,000 (major supply; strong rejection zone)

Immediate Support (Demand):

24,640–24,670 (CMP support; watch for breakdown)

24,410–24,450 (major HTF demand if support breaks)

📈 Trade Plan (29th July)

🔻 Scenario 1 – Sell on Pullback (Preferred Bias)

Entry: 24,750–24,800 (if price pulls back intraday)

SL: Above 24,880

Targets: 24,640 → 24,500 → 24,420

🔻 Scenario 2 – Breakdown Short

If price sustains below 24,640 with volume:

Entry: Below 24,630

SL: Above 24,720

Targets: 24,500 → 24,420

🔺 Scenario 3 – Countertrend Buy (Only for Aggressive Traders)

If price shows strong bullish rejection w/ engulfing candle at 24,640–24,670 zone:

Entry: Near 24,660

SL: Below 24,600

Targets: 24,750 → 24,800

🚫 No-Trade Zone

24,680–24,730: Choppy zone with liquidity wicks, avoid taking fresh positions until a clear rejection or breakout occurs.

✅ Bias: Bearish, prefer sell on rallies.

⚠️ Caution: If 24,640 demand holds with strength, a short-covering rally to 24,800 is possible.