🔻 NIFTY Technical Breakdown – Rising Wedge Pattern
The Nifty 50 has broken down from a rising wedge pattern on the daily timeframe, a bearish reversal formation that often signals distribution at the top.
📉 Key Observations:
Rising wedge breakdown after extended rally
RSI bearish divergence confirming weakness
MACD crossover turning negative
Volume gradually decreasing during the rise, indicating exhaustion
ADX flattening, showing weakening trend strength
📌 Support Levels to Watch:
23,783 – Key swing support
22,798 – Previous breakout zone
📌 Sectoral Rotation:
Defensive sectors like Pharma & FMCG are gaining strength
FII selling pressure, rising DXY, and global uncertainty continue to weigh on sentiment
⚠️ Outlook:
Caution warranted in the short term. Watch for sustained close below 24,900 for further downside confirmation. Macro and global cues to play a key role ahead.
💬 What’s your view on Nifty's near-term direction?
#Nifty50 #TechnicalAnalysis #RisingWedge #MarketOutlook #TradingView #ChartStudy #IndiaMarkets #BearishSetup #NiftyBreakdown #Puneet0130
The Nifty 50 has broken down from a rising wedge pattern on the daily timeframe, a bearish reversal formation that often signals distribution at the top.
📉 Key Observations:
Rising wedge breakdown after extended rally
RSI bearish divergence confirming weakness
MACD crossover turning negative
Volume gradually decreasing during the rise, indicating exhaustion
ADX flattening, showing weakening trend strength
📌 Support Levels to Watch:
23,783 – Key swing support
22,798 – Previous breakout zone
📌 Sectoral Rotation:
Defensive sectors like Pharma & FMCG are gaining strength
FII selling pressure, rising DXY, and global uncertainty continue to weigh on sentiment
⚠️ Outlook:
Caution warranted in the short term. Watch for sustained close below 24,900 for further downside confirmation. Macro and global cues to play a key role ahead.
💬 What’s your view on Nifty's near-term direction?
#Nifty50 #TechnicalAnalysis #RisingWedge #MarketOutlook #TradingView #ChartStudy #IndiaMarkets #BearishSetup #NiftyBreakdown #Puneet0130
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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.