🟣 Nifty 50 Index – Fresh Possible Supply Zones Spotted! | 15-Min Chart Analysis
📅 Date: May 7, 2025 | 🕒 Timeframe: 15-Minute
Hello Traders 👋
Today’s chart highlights two potential supply zones on the Nifty 50 index that could play a crucial role in the short-term price movement. Supply zones are areas where sellers have previously stepped in, often leading to price reversals or consolidations. As price approaches these levels again, we may witness similar behavior.
🔲 Supply Zone 1: 24,558.35 – 24,589.15
This upper zone formed after a strong up-move followed by aggressive selling pressure. It indicates the presence of strong sellers. If Nifty retests this area, look for signs of reversal like bearish candles or rejection wicks.
🔲 Supply Zone 2: 24,391.30 – 24,449.60
A more recent and sharper reaction zone. This is where we saw an intraday rejection today, suggesting sellers are active even at slightly lower levels. This could act as the first resistance on any intraday pullback.
🧠 What Should Traders Watch For?
Wait for price to enter the supply zone and show signs of rejection.
Use confirmation tools like candlestick patterns, RSI divergence, or volume drop.
Ideal for sell-on-rise setups with proper stop loss above the supply zone.
Avoid trading blindly inside the zone—confirmation is key.
📌 Note: These zones are not guaranteed reversal points but serve as high-probability areas for potential resistance. Combine them with your strategy for better results.
💬 Feel free to drop your thoughts or ask questions in the comments. Follow for more such real-time chart breakdowns.
📅 Date: May 7, 2025 | 🕒 Timeframe: 15-Minute
Hello Traders 👋
Today’s chart highlights two potential supply zones on the Nifty 50 index that could play a crucial role in the short-term price movement. Supply zones are areas where sellers have previously stepped in, often leading to price reversals or consolidations. As price approaches these levels again, we may witness similar behavior.
🔲 Supply Zone 1: 24,558.35 – 24,589.15
This upper zone formed after a strong up-move followed by aggressive selling pressure. It indicates the presence of strong sellers. If Nifty retests this area, look for signs of reversal like bearish candles or rejection wicks.
🔲 Supply Zone 2: 24,391.30 – 24,449.60
A more recent and sharper reaction zone. This is where we saw an intraday rejection today, suggesting sellers are active even at slightly lower levels. This could act as the first resistance on any intraday pullback.
🧠 What Should Traders Watch For?
Wait for price to enter the supply zone and show signs of rejection.
Use confirmation tools like candlestick patterns, RSI divergence, or volume drop.
Ideal for sell-on-rise setups with proper stop loss above the supply zone.
Avoid trading blindly inside the zone—confirmation is key.
📌 Note: These zones are not guaranteed reversal points but serve as high-probability areas for potential resistance. Combine them with your strategy for better results.
💬 Feel free to drop your thoughts or ask questions in the comments. Follow for more such real-time chart breakdowns.
Trade closed manually
Expiry move completed
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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.
Related publications
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.