Technical Analysis of Nifty 50 Chart with Target and Stop Loss
Key Technical Levels:
Support Levels:
22,722.75 (0.786 Fibonacci retracement level) – Strong support zone; price might bounce from here.
22,764.25 (0.618 Fibonacci retracement level) – Another crucial support; if broken, price may head lower.
Resistance Levels:
22,793.45 (0.5 Fibonacci retracement level) – Immediate resistance; price struggling to hold above this.
22,822.60 (0.382 Fibonacci retracement level) – Key resistance; strong selling pressure seen near this level.
Target and Stop-Loss Consideration:
Target (TGT) Levels:
If price holds 22,764, potential upside towards 22,793 and 22,822.
A breakout above 22,822 can lead to higher targets.
Stop-Loss (SL):
If entering a long position near 22,764, an ideal stop-loss would be below 22,722 (next major support).
For short positions, if price fails to break below 22,764, SL should be above 22,822.
Indicators & Market Sentiment:
RSI (Relative Strength Index):
Currently at 31.81, indicating an oversold zone—potential for a bounce.
Volume Analysis:
Increasing volume near support levels suggests potential buying interest.
Conclusion:
A bounce from support (22,764 - 22,722) may lead to an upside move.
Breakdown below 22,722 could trigger further downside.
Short-term traders can use 22,764 as an entry with a target of 22,822 and stop-loss below 22,722.
Nifty 50 Analysis: Short-Term, Medium-Term, and Long-Term View
📌 Short-Term View (Intraday to a Few Days)
Current Trend: Bearish to Neutral
Key Levels:
Support: 22,722 (0.786 Fib), 22,764 (0.618 Fib)
Resistance: 22,793 (0.5 Fib), 22,822 (0.382 Fib)
Analysis:
The price is hovering around the 0.618 Fibonacci support (22,764). If this level holds, a bounce toward 22,793 - 22,822 is possible.
RSI at 31.81 suggests an oversold condition, indicating a possible short-term bounce.
If 22,764 breaks, then expect a move toward 22,722 or lower.
🔹 Short-Term Strategy:
Bullish case: Buy near 22,764, Target: 22,822, SL: 22,722
Bearish case: Sell below 22,764, Target: 22,722, SL: 22,793
📌 Medium-Term View (Few Weeks to a Month)
Current Trend: Sideways to Slightly Bearish
Key Levels:
Support: 22,700 - 22,750 (Strong Demand Zone)
Resistance: 22,900 - 23,000 (Major Resistance Zone)
Analysis:
If 22,722 support holds, the market may consolidate and attempt to break above 22,822 - 22,900.
Failure to hold 22,722 could lead to further downside toward 22,600 - 22,500.
Medium-term momentum is weak due to lower highs and lower lows in recent price action.
🔹 Medium-Term Strategy:
Bullish case: Buy on dips near 22,722, Target: 22,900 - 23,000, SL: 22,600
Bearish case: Sell below 22,722, Target: 22,500, SL: 22,822
📌 Long-Term View (Months to a Year)
Current Trend: Bullish but in Consolidation Phase
Key Levels:
Support: 22,500 (Major Support), 22,000 (Critical Level)
Resistance: 23,500 - 24,000 (Long-Term Upside Target)
Analysis:
The long-term structure remains bullish as higher timeframes show higher highs and higher lows.
The current correction is healthy unless 22,500 - 22,000 breaks.
If Nifty holds above 22,700, it may target 23,500 - 24,000 in the coming months.
🔹 Long-Term Strategy:
Buy near 22,500 - 22,700, Target: 23,500 - 24,000, SL: 22,000
If 22,000 breaks, expect a deeper correction toward 21,500 - 21,000.
🔹 Final Summary:
Timeframe Trend Key Support Key Resistance Target Stop-Loss
Short-Term Neutral-Bearish 22,722 - 22,764 22,793 - 22,822 22,822 22,722
Medium-Term Sideways to Bearish 22,700 22,900 - 23,000 23,000 22,600
Long-Term Bullish 22,500 23,500 - 24,000 24,000 22,000
🚀 Overall, long-term remains bullish, but short-term and medium-term show weakness unless support holds.
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