Nifty 50 IndexShort
Price Action Analysis for Nifty 50 Index (Daily Timeframe)
Candle Pattern Observed:
Downtrend with lower highs and lower lows confirmed by the SuperTrend Indicator showing a Sell Signal.
Trend:
Bearish: Persistent selling pressure with resistance zones being respected and prices failing to sustain upward moves.
Signal:
Sell: Below 23,600 for a continuation of the downtrend.
Buy: Above 24,200 for a trend reversal confirmation.
Target:
Sell Target: 23,300 and 22,800 (next demand zone).
Buy Target: 24,500 and 25,000 (testing prior highs).
Stop Loss:
Sell Stop Loss: Above 23,800.
Buy Stop Loss: Below 23,500.
Additional Notes:
Volume Confirmation: Watch for increased volume during breakdowns or breakouts to validate signals.
Utilize multi-timeframe analysis to refine entry and exit points based on shorter timeframes.
Downtrend with lower highs and lower lows confirmed by the SuperTrend Indicator showing a Sell Signal.
Trend:
Bearish: Persistent selling pressure with resistance zones being respected and prices failing to sustain upward moves.
Signal:
Sell: Below 23,600 for a continuation of the downtrend.
Buy: Above 24,200 for a trend reversal confirmation.
Target:
Sell Target: 23,300 and 22,800 (next demand zone).
Buy Target: 24,500 and 25,000 (testing prior highs).
Stop Loss:
Sell Stop Loss: Above 23,800.
Buy Stop Loss: Below 23,500.
Additional Notes:
Volume Confirmation: Watch for increased volume during breakdowns or breakouts to validate signals.
Utilize multi-timeframe analysis to refine entry and exit points based on shorter timeframes.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.