Probable Scenario Analysis and Trade Plan for the Nifty 50 Index 
NIFTY for the 24th of July, 2026. The day is Friday.
🟢 Bullish Scenario
There is no observable bullish setup. Doubt every up move. In fact, an up move will act as an opportunity to short the market. However, if the price breaks out above 24000, then a weak bullish move can be expected. The probable weak bullish targets above 24000 would be - 24050 and 24100. Please note, it is highly recommended to avoid executing bullish trades. It might be a trap. The market is in a perfectly lower-lows and lower-highs structure.
🔴 Bearish Scenario
Presently, the price is in a bearish phase. However, wait for a decisive breakdown below 23800. Stay bearish if the price remains below 23800. The probable bearish targets below 23800 would be - 23750, 23700, and 23650.
🟡 No Trading Zone (NTZ): (24000 - 23800).
Here, the zone (24000 - 23800) is a super strong resistance. It is very difficult for the price to break out above this zone.
⏺ Range of Consolidation (ROC): (24000 - 23800).
Here, 23900 is the median of the ROC. The median works like an intraday sentiment evaluator. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment within the ROC.
● Event
No high-impact event this week. It is the last day of the week. Lastly, geopolitical issues are omnipresent.
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
NIFTY for the 24th of July, 2026. The day is Friday.🟢 Bullish Scenario
There is no observable bullish setup. Doubt every up move. In fact, an up move will act as an opportunity to short the market. However, if the price breaks out above 24000, then a weak bullish move can be expected. The probable weak bullish targets above 24000 would be - 24050 and 24100. Please note, it is highly recommended to avoid executing bullish trades. It might be a trap. The market is in a perfectly lower-lows and lower-highs structure.
🔴 Bearish Scenario
Presently, the price is in a bearish phase. However, wait for a decisive breakdown below 23800. Stay bearish if the price remains below 23800. The probable bearish targets below 23800 would be - 23750, 23700, and 23650.
🟡 No Trading Zone (NTZ): (24000 - 23800).
Here, the zone (24000 - 23800) is a super strong resistance. It is very difficult for the price to break out above this zone.
⏺ Range of Consolidation (ROC): (24000 - 23800).
Here, 23900 is the median of the ROC. The median works like an intraday sentiment evaluator. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment within the ROC.
● Event
No high-impact event this week. It is the last day of the week. Lastly, geopolitical issues are omnipresent.
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
Note
The market has filled its Unfilled Gap near 23650. All targets achieved.
Now it's time to rest and enjoy the weekend.
Happy Trading!
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.
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.