Nifty 50 Price Structure Analysis [02/12/2025: Friday]Top-Down Nifty 50 Price Structure Analysis for 02nd of December 2026. The day is Friday.
(1) Monthly Time Frame:
It is the first day of the month. The candle has so far no body formation. The candle is inside the previous month's black paper umbrella or hanging man. The market is flat. There's no price action clarity. Major resistance is 26200. Major support is 26000. The view is indecision.
(2) Weekly Time Frame:
Price is in the same choppy and sideways range. The present week's candle is bullish with a longer lower wick and a smaller upper wick. The previous week's candle is engulfed by this week's candle so far. Major resistance is 26200. Weak support is 26100. Major support is 26000. The view is indecision to bullish.
(3) Daily Time Frame:
Today's candle is a perfect black spinning top. It means today's intraday session was indecisive and choppy. Bulls are trapped near 26200, and bears are trapped near 26100. Price gave a closing above the previous day's closing price. Bullishness is still intact. Major resistance is 26200. First support is 26100. Final bullish support is 26000. The view is indecision to bullish.
(4) 30-Minute Time Frame:
The intraday session is choppy and sideways. Considering the price structure of 2 days, the price has formed a pole and flag pattern. If the price gives a breakout above the level 26200, then bullish continuation will be confirmed. The potential supports are - 26100, 26050, and 26000. The view is indecision to bullish.
Bullish Scenario Set-Up:
(i) Price sustains above the opening price.
(ii) Price must show sustainability above level 26150 for a longer duration (more than 1-2 hours) and show a sign of breaking out level 26200.
(iii) Price starts to trade above the level 26200. In this case, previous ATH (26277.35) and level 26300 are possible targets.
Bearish Scenario Set-Up:
(i) Price sustains below the opening price.
(ii) If the price breaks down level 26100, then execute a sharp short trade till level 26050.
(iii) If price breaks below the level 26050, then execute a sharp short trade til the level 26000.
(iv) In case level 26000 is decisively breached, then execute a confident short trade. In this case, the bearish phase will activate.
No Trading Zone (NTZ): (26200 - 26100)
Event: No expiry on Friday. No high-impact event. However, the day is Friday (the last day of the week).
Summary of the Trading Plan (Hypothesis and Insights):
(i) The monthly TF bias is indecision.
(ii) The weekly TF bias is indecision to bullish.
(iii) The daily TF bias is indecision to bullish.
(iv) The 30-Minute TF bias is indecision to bullish.
(v) Establish intraday bias with respect to the opening price.
(vi) No Trading Zone (NTZ): (26200 - 26100). Bulls are trapped at 26200, and bears are trapped at 26100.
(vii) There is a higher probability of a bullish move. The bullish bias is intact. So, wait for bullish confirmation.
(viii) Execute bullish trade when price sustains above level 26150 for a long time (1-2 hours) and shows promise of breaking out above level 26200. Confident bullish trades are possible when the price decisively starts to trade above the level 26200.
(ix) In case, price starts to trade below the level 26100, then short trades can be executed with the first target of 26050. Furthermore, if the price starts to trade below the level 26100, then short trades can be executed with the target of 26000. Remember, these trades should be sharp and short-lived as bullishness will be intact till level 26000.
(x) Confident bearish trades are only possible when the price decisively breaks below level 26000.
(xi) Trade only when either a bullish/ bearish scenario is activated. Otherwise, don't trade. Remember, not trading is an extension of the trading activity. Be Responsible.
NOTE:
"Mark your points. Trade your points. Price is God. Anything can happen in the markets. Therefore, trade what you see, not what you believe."
Happy Trading!
