NIFTY - Technical analysis
Price is currently around 24,500, which is right near the 0.786 retracement level, a Strong confluence zone, Nifty has reversed from here multiple time.
If Nifty sustains above 24,500 and reclaims 24,650–24,750 (0.618–0.5 retracement), there is room for upside move toward 25,150.
If it fails to hold 24,500 and especially 24,334 - recent swing low, then downside continuation may come.
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Price is currently around 24,500, which is right near the 0.786 retracement level, a Strong confluence zone, Nifty has reversed from here multiple time.
If Nifty sustains above 24,500 and reclaims 24,650–24,750 (0.618–0.5 retracement), there is room for upside move toward 25,150.
If it fails to hold 24,500 and especially 24,334 - recent swing low, then downside continuation may come.
✅ If you like my analysis, please follow me as a token of appreciation :)
in.tradingview.com/u/SatpalS/
📌 For learning and educational purposes only, not a recommendation. Please consult your financial advisor before investing.
Note
NIFTY touched 24635, close to Fib 0.618 levels, but not bullish yet, will require further move.Note
NIFTY is hovering near the 0.5 Fib retracement, still within the bearish zone. Today’s candle is currently taking support at the 100EMA (Daily TF).
The broader trend remains bearish on higher time frames, while lower time frames are neutral. For long entries, confirmation is needed. A breakout above 24,750 may open the path toward 24,820 and 24,920.
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.