~~ Key Technical Indicators and Levels ~~
-- Current Price and Trend:
As of recent trading sessions, the Nifty 50 closed at 24,718 on June 14, 2024, with a marginal decline. The index has been consolidating after a significant rally post-election results, indicating a pause in the bullish momentum.
The short-term trend remains bullish, but the index is showing signs of consolidation near its all-time high.
#Support and Resistance Levels:
Support: Key support levels are identified around 24,500–24,150 (immediate support),
Resistance: Immediate resistance is at 25000–25,100, with a psychological barrier at 25,000. A breakout above 25,100 could target 25,500 in the medium term.
-- Moving Averages:
The Nifty is trading above its key moving averages (20-day, 50-day, and 200-day EMAs), signalling a bullish trend.
A cooling-off in RSI signal a healthy correction before the next leg up.
Chart for your reference
-- Disclaimer --
This analysis is based on recent technical data and market sentiment from web sources. It is for informational purposes only and not financial advice. Trading involves high risks, and past performance does not guarantee future results. Always conduct your own research or consult a SEBI-registered advisor before trading.
#Boost and comment will be highly appreciated
Trade active
target 1 Achieved next technical posted on trading view 
renderwithme
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.
renderwithme
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.