In hourly frame, it is near the trendline. Let's wait for conformation.
For intraday, long above 1229 & target 1242
It was trading in a rectangular channel (red lines). Thick red line is immediate support and thick green line will act as the next support. Blue lines are resistance. It can be traded in both directions depending on trendline breakout. Long around 365 for 384 short around 364 for 352
Short below 472. Fresh longs should be initiated once it closes above 490.
Formed an ascending triangle in hourly timeframe. Looks good above 490 for 10 points. It can see 420 if 450 level is broken.
NIFTY is likely to trade between 8200 to 8900. Next support is around 7850.
After gap down, NIFTY bounced back in this channel
Weekly close below 410 will take it down to 380 Next minor support is at 366.
Today NIFTY made low of 11536 and covered more than 90 pts.
If it fails to take support at 650, it may see 625 and 610 levels.
If this level is broken, can see 1100 in few sessions.