4-Hour Chart (Macro Trend)
Structure: The Nifty is deep in a corrective phase, having broken the major 25,050 - 25,100 demand zone. The price is now trading at the lower boundary of a steep descending channel and sitting on a key demand zone at 24,600 - 24,700.
Key Levels:
Major Supply (Resistance): 25,000 - 25,100. This previous support is now a crucial overhead supply.
Major Demand (Support): 24,600 - 24,700. This is the key "line in the sand" for the medium-term rally. Below this, the next major support is near 24,400.
Outlook: The selling pressure has paused at a critical level. A failure to bounce convincingly from here will lead to the next sharp leg down.
1-Hour Chart (Intermediate View)
Structure: The 1H chart is strongly bearish, confined to a descending channel, with a clear sequence of lower highs and lower lows. The market closed right on the lower boundary of the demand zone.
Key Levels:
Immediate Resistance: The upper trendline of the descending channel, near 24,800.
Immediate Support: 24,600. This level must hold.
15-Minute Chart (Intraday View)
Structure: The 15M chart shows consolidation near the low, confirming a temporary pause in selling. Price is attempting to stabilize after breaking the 24,750 support and has taken liquidity below a recent low.
Key Levels:
Intraday Supply: 24,800. A key short-term resistance.
Intraday Demand: 24,600. The crucial support for the open.
Outlook: Bearish-to-Neutral. The primary direction is still bearish, but a bounce is possible from the strong support.
Trade Plan (Tuesday, 30th September)
Market Outlook: The Nifty is at a major support level. The strategy is to be reactive to a break of the consolidation boundaries.
Bearish Scenario (Primary Plan)
Justification: A continuation of the strong bearish trend following the break of major supports.
Entry: Short entry on a decisive break and 15-minute candle close below 24,600.
Stop Loss (SL): Place a stop loss above 24,700.
Targets:
T1: 24,500 (Minor psychological support).
T2: 24,400 (Next major demand zone).
Bullish Scenario (Counter-Trend/Reversal Plan)
Justification: Relies on the strong demand zone at 24,600 - 24,700 initiating a bounce.
Trigger: A sustained move and close above the immediate resistance at 24,800.
Entry: Long entry on a confirmed 15-minute close above 24,800.
Stop Loss (SL): Below 24,700.
Targets:
T1: 25,000 (Psychological resistance).
T2: 25,100 (Major supply zone).
Key Levels for Observation:
Immediate Decision Point: The 24,600 - 24,800 range.
Bearish Confirmation: A break and sustained move below 24,600.
Bullish Confirmation: A recapture of the 24,800 level.
Line in the Sand: 24,600.
Structure: The Nifty is deep in a corrective phase, having broken the major 25,050 - 25,100 demand zone. The price is now trading at the lower boundary of a steep descending channel and sitting on a key demand zone at 24,600 - 24,700.
Key Levels:
Major Supply (Resistance): 25,000 - 25,100. This previous support is now a crucial overhead supply.
Major Demand (Support): 24,600 - 24,700. This is the key "line in the sand" for the medium-term rally. Below this, the next major support is near 24,400.
Outlook: The selling pressure has paused at a critical level. A failure to bounce convincingly from here will lead to the next sharp leg down.
1-Hour Chart (Intermediate View)
Structure: The 1H chart is strongly bearish, confined to a descending channel, with a clear sequence of lower highs and lower lows. The market closed right on the lower boundary of the demand zone.
Key Levels:
Immediate Resistance: The upper trendline of the descending channel, near 24,800.
Immediate Support: 24,600. This level must hold.
15-Minute Chart (Intraday View)
Structure: The 15M chart shows consolidation near the low, confirming a temporary pause in selling. Price is attempting to stabilize after breaking the 24,750 support and has taken liquidity below a recent low.
Key Levels:
Intraday Supply: 24,800. A key short-term resistance.
Intraday Demand: 24,600. The crucial support for the open.
Outlook: Bearish-to-Neutral. The primary direction is still bearish, but a bounce is possible from the strong support.
Trade Plan (Tuesday, 30th September)
Market Outlook: The Nifty is at a major support level. The strategy is to be reactive to a break of the consolidation boundaries.
Bearish Scenario (Primary Plan)
Justification: A continuation of the strong bearish trend following the break of major supports.
Entry: Short entry on a decisive break and 15-minute candle close below 24,600.
Stop Loss (SL): Place a stop loss above 24,700.
Targets:
T1: 24,500 (Minor psychological support).
T2: 24,400 (Next major demand zone).
Bullish Scenario (Counter-Trend/Reversal Plan)
Justification: Relies on the strong demand zone at 24,600 - 24,700 initiating a bounce.
Trigger: A sustained move and close above the immediate resistance at 24,800.
Entry: Long entry on a confirmed 15-minute close above 24,800.
Stop Loss (SL): Below 24,700.
Targets:
T1: 25,000 (Psychological resistance).
T2: 25,100 (Major supply zone).
Key Levels for Observation:
Immediate Decision Point: The 24,600 - 24,800 range.
Bearish Confirmation: A break and sustained move below 24,600.
Bullish Confirmation: A recapture of the 24,800 level.
Line in the Sand: 24,600.
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.