Nifty 50 Price Structure Analysis [23/02/2026: Monday]Top-Down Nifty 50 Price Structure Analysis for 23rd of February 2026. The day is Monday.
(1) Monthly Time Frame:
A green spinning top with a massive upper and lower wick. It is a highly indecisive month so far. However, the candle is green and sustaining above the level 25500. There is no sign of a trend. The view is indecision.
(2) Weekly Time Frame:
The weekly candle shows a green gravestone doji. There is both selling pressure and buying pressure. The candle closed above 25500. The major zone of resistance is (25650 - 25600). The major zone of support is (25400 - 25350). Level 25500 would remain as the decider of the market sentiment. If the price respects the level 25500, then a more bullish move can be expected. However, if the price breaks down level 25500 and sustains below it, then bearish sentiment would activate. 25 EMA is working as a good support. The view is indecision.
(3) Daily Time Frame:
Today's candle is a green candle with the feature of bullish piercing. The price structure reversed the previous day's massive fall and sustained above the level of 25500. Price structure since 03rd February shows a lower lows and lower highs structure. However, price reverses every time it falls. Thus, there is both buying and selling pressure. The major zone of support is (25400 - 25350). The major zone of resistance is (25650 - 25600). Present price structure is -
Price < 25 EMA (flat sloping) < 50 EMA (flat sloping).
However, 150 EMA looks like a strong support for the market. We need a strong breakout above level 25650 to ensure bullish sustainability, while we need a strong breakdown below level 25400 to ensure bearish sustainability. There is no clear trend. Trading would be difficult for directional traders. The view is indecision.
(4) 30-minute Time Frame:
Price is in a major sideways consolidation. 200 EMA is flat. All the EMAs are bundled together. Either side break might offer a strong trend. But nobody knows when and which side the break would emerge. We have to wait and watch. Level 25500 is a major psychological support. A breakdown below 25500 would offer the first target to 25400. If level 25400 is also decisively breached, then levels 25300 and 25200 are possible. However, if the price starts to sustain above level 25650 and forms a higher high, a higher low structure, then level 25900 might be an achievable target. The view is indecision.
No Trading Zone (NTZ): (25650 - 25500).
Events: No expiry. No high-impact event. No holidays.
OI Insight: Level 25500 shows strong put writing. Level 25700 shows strong call writing. The data is indecisive.
Summary of the Trading Plan (Hypothesis and Insights):
(i) Monthly TF: The view is indecision.
(ii) Weekly TF: The view is indecision.
(iii) Daily TF: The view is indecision.
(iv) 30-minute TF: The view is indecision.
(v) No Trading Zone (NTZ): (25650 - 25500).
(vi) Establish intraday bias with respect to the opening price. The sustainability of the price above or below the opening price would decide intraday bullish or bearish sentiment.
(vii) The major zone of resistance is (25650 - 25600). A breakout above this zone would confirm bullish strength.
(viii) If the price breaks down below level 25500, then a 100-point move to 25400 is achievable. In case the price breaks down level 25400, then the zone (25300 - 25350) is achievable. The major zone of support is (25400 - 25350).
(ix) We have to wait for a breakout or breakdown. Presently, we are in an indecision zone.
(x) Keep an eye on the slopes of 9-25-50-200 EMA in both 15-minute and 30-minute TF. It would decide the sentiment and price movement.
NOTE:
(i) Trade only if there is a setup. Remember, not trading is an extension of the trading activity. BE RESPONSIBLE. Always HEDGE your position. Follow RISK Management. PROTECT your CAPITAL.
(ii) Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Therefore, trade what you see, not what you believe.
(iii) Be Strategic. Be Courageous. Be Patient. Be Wise.
(iv) Every day is a new day. Therefore, do not carry the baggage of previous successes or failures. Always trade with a fresh perspective.
Happy Trading!
