Nifty 50 (2-hour timeframe) chart... Nifty 50 (2-hour timeframe) chart
from TradingView — here’s what can be inferred visually:
Current Nifty price: ≈ 25,323
You’ve drawn:
A horizontal resistance zone around 25,450–25,500 (highlighted in green)
A rising trendline from lower lows (support line)
A projected “target point” arrow pointing toward that rising support line, intersecting around the 24,700–24,750 zone
📊 Interpretation
My chart setup suggests a potential short-term pullback from the resistance zone (25,450–25,500) toward the support region.
🎯 Likely Target Zone
Target: Around 24,700 ±50 points
Stop Loss (if short): Above 25,500
Support levels:
24,900 (minor Ichimoku support)
24,700 (trendline + target point)
⚠ Note
The Ichimoku cloud is providing near-term support around 24,950–25,000, so expect consolidation before any deeper correction.
If Nifty breaks above 25,500 with volume, this bearish setup invalidates and could open upside toward 25,800–26,000.
