Candle Pattern Observed: Downtrend with lower highs and lower lows confirmed by the SuperTrend Indicator showing a Sell Signal. Trend: Bearish: Persistent selling pressure with resistance zones being respected and prices failing to sustain upward moves. Signal: Sell: Below 23,600 for a continuation of the downtrend. Buy: Above 24,200 for a trend reversal...
Short-Term Consolidation with Bearish Bias. Observations: Moving Averages: Price is trading below the 200-period SMA (red line), indicating bearish dominance. Hovering near the 50-period SMA (green line), suggesting short-term support around $94,677.93. RSI (14): RSI at 58.95, approaching overbought territory but not extreme, signaling potential short-term...
Observations: Price is above the 200-period SMA (green line), indicating long-term bullishness. Recently tested the 50-period SMA (red line) as support but is hovering near it. RSI: Neutral zone (45–53), indicating no strong momentum in either direction. Signal: Buy range: $93,000–$94,500 Target: $99,000–$102,000 Stop Loss: $91,000
Market Context The Nifty 50 index is trading near 23,813, indicating a recent downtrend after forming lower highs. The price is below the 50-day SMA (red), showing short-term bearish sentiment, but is near the 200-day SMA (green), acting as a critical support zone. RSI is at 44.80, reflecting neutral to slightly bearish momentum without being oversold. Key...
Aspect Details Trend Direction Bearish across all timeframes—short opportunities favored. Support Levels 97,500–97,700 USDT—key zone to watch for a reaction. Resistance Levels 98,200–98,400 USDT—watch for rejection for short entries. Entry (Short) Near 98,000–98,200 USDT, if price rejects moving higher. Stop Loss 98,500 USDT—above recent highs and...