NIFTY - Technical analysis
Price is currently around 24,500, which is right near the 0.786 retracement level, a Strong confluence zone, Nifty has reversed from here multiple time.
If Nifty sustains above 24,500 and reclaims 24,650–24,750 (0.618–0.5 retracement), there is room for upside move toward 25,150.
If it fails to hold 24,500 and especially 24,334 - recent swing low, then downside continuation may come.
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Price is currently around 24,500, which is right near the 0.786 retracement level, a Strong confluence zone, Nifty has reversed from here multiple time.
If Nifty sustains above 24,500 and reclaims 24,650–24,750 (0.618–0.5 retracement), there is room for upside move toward 25,150.
If it fails to hold 24,500 and especially 24,334 - recent swing low, then downside continuation may come.
✅ If you like my analysis, please follow me as a token of appreciation :)
in.tradingview.com/u/SatpalS/
📌 For learning and educational purposes only, not a recommendation. Please consult your financial advisor before investing.
Nota
NIFTY touched 24635, close to Fib 0.618 levels, but not bullish yet, will require further move.Nota
NIFTY is hovering near the 0.5 Fib retracement, still within the bearish zone. Today’s candle is currently taking support at the 100EMA (Daily TF).
The broader trend remains bearish on higher time frames, while lower time frames are neutral. For long entries, confirmation is needed. A breakout above 24,750 may open the path toward 24,820 and 24,920.
Penafian
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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.