Nifty 50 Index Analysis & Trade Setup (April 1, 2025)1. Current Market Overview
Last Close: 23,495.15
Day’s Range: 23,450.20 (Low) – 23,545.30 (High)
Change: -48.50 (-0.21%) – Minor bearish close
Key Observations:
The index faced resistance near 23,545 and closed slightly lower.
The 15-minute chart shows consolidation between 23,450–23,545.
The 1-hour chart suggests a broader range between 23,200–23,800.
2. Technical Analysis Breakdown
a) Support & Resistance Levels
Immediate Support: 23,450 (Day’s Low)
Strong Support: 23,200–23,400 (Previous swing low & psychological level)
Immediate Resistance: 23,545–23,600 (Day’s High & round number)
Strong Resistance: 23,800 (Key swing high)
b) Price Action & Trend
Bearish Bias: The index closed below the opening price, indicating selling pressure.
Neutral Zone: If 23,450–23,545 holds, expect sideways movement.
Breakout Scenario:
Bullish Break: Above 23,600, target 23,800.
Bearish Break: Below 23,450, target 23,200–23,300.
c) Volume & Momentum
The decline was not extreme, suggesting cautious selling rather than panic.
A retest of 23,500–23,600 could confirm direction.
3. Trade Strategy (Intraday/Swing)
A) Short Trade (Bearish Bias)
Entry Zone: 23,500–23,550 (Retest of resistance)
Stop Loss: 23,600 (Above day’s high)
Target 1: 23,400 (Minor support)
Target 2: 23,200–23,300 (Strong support)
Risk-Reward: ~1:2 (Favorable)
B) Long Trade (Bullish Reversal)
Entry Zone: 23,450–23,400 (Support bounce)
Stop Loss: 23,350 (Below swing low)
Target 1: 23,600 (Resistance)
Target 2: 23,800 (Major resistance)
Risk-Reward: ~1:3 (High reward if breakout occurs)
4. Key Takeaways & Final Thoughts
Bearish until 23,600 breaks – The close below 23,500 suggests weakness.
Watch 23,450 closely – A breakdown could accelerate selling.
Bullish only above 23,600 – Confirmation needed for upside momentum.
Ideal Strategy: Wait for a clear break (either side) before committing.
Final Note: If the market opens near 23,500, watch for rejection (short) or bounce (long). Adjust stops based on volatility.
