Nifty 50 technical analysis of the day

87
Chart Observation:

Price recently swept Buy-side Liquidity (BSL) near 24,320–24,350 zone.

After the liquidity grab, a sharp rejection confirms institutional sell-side activity.

Market structure is turning bearish as price breaks below minor support near 24,250.


Key SMC Levels:

BSL zone (Trap Zone): 24,320–24,350 (Liquidity grab completed)

Break of Structure (BoS): Below 24,250 confirms bearish bias.

Next Target - Sell-side Liquidity (SSL): 24,100 then 23,950–23,900 zone.

Fair Value Gap (FVG): 24,270–24,300 (can be retested as resistance)



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Trade Setup:

Entry: On pullback to 24,270–24,300 (FVG / bearish OB zone)

Stop Loss: Above 24,360 (above liquidity sweep)

Target 1: 24,100 (nearest SSL)

Target 2: 23,950–23,900 (deeper SSL zone)



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SMC Logic: After sweeping liquidity from buy-side traders, Smart Money is likely shifting to the sell-side to trap late buyers. The impulsive bearish candle confirms order flow shift.

Bias: Bearish
Strategy: Sell the pullback into premium zone

Penafian

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