The chart represents the Nifty 50 Index (NSE) on a daily (1D) timeframe. Here are key observations and insights:
Current Market Analysis (Price: 23,688.65)
• Resistance Levels:
• 23,791.40: Immediate resistance.
• 24,552.15: Strong resistance zone.
• 25,126.85: Key upper resistance.
• 27,090.40: Major long-term resistance.
• Support Levels:
• 23,366.80: Psychological support.
• 22,303.85 (0.236 Fib retracement): Moderate support.
• 21,646.20 (0.382 Fib retracement): Strong support.
• 20,505.45 - 20,296.05: Major long-term support.
Breakout Possibility
• The index is currently trying to break out above the resistance of 23,791.40.
• If it successfully closes above this level, it could test 24,552.15 next.
• A strong breakout above 25,126.85 would signal a bullish trend continuation.
Support Analysis
• If the price fails to sustain above 23,791.40, it might retest 23,366.80.
• A break below 22,303.85 could trigger a further decline to 21,646.20 or lower.
Conclusion
• Bullish Scenario: If Nifty sustains above 23,791.40, it could see further upside towards 24,552.15 and beyond.
• Bearish Scenario: If Nifty rejects at resistance, it might pull back towards 23,366.80 and lower.
Current Market Analysis (Price: 23,688.65)
• Resistance Levels:
• 23,791.40: Immediate resistance.
• 24,552.15: Strong resistance zone.
• 25,126.85: Key upper resistance.
• 27,090.40: Major long-term resistance.
• Support Levels:
• 23,366.80: Psychological support.
• 22,303.85 (0.236 Fib retracement): Moderate support.
• 21,646.20 (0.382 Fib retracement): Strong support.
• 20,505.45 - 20,296.05: Major long-term support.
Breakout Possibility
• The index is currently trying to break out above the resistance of 23,791.40.
• If it successfully closes above this level, it could test 24,552.15 next.
• A strong breakout above 25,126.85 would signal a bullish trend continuation.
Support Analysis
• If the price fails to sustain above 23,791.40, it might retest 23,366.80.
• A break below 22,303.85 could trigger a further decline to 21,646.20 or lower.
Conclusion
• Bullish Scenario: If Nifty sustains above 23,791.40, it could see further upside towards 24,552.15 and beyond.
• Bearish Scenario: If Nifty rejects at resistance, it might pull back towards 23,366.80 and lower.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.