NIFTY INDEX FUTURES OVERVIEW

 

Analysis of S&P CNX NIFTY INDEX FUTURES (1-Min Chart)

Short-Term View (Intraday/Scalping)

Trend: Downtrend with a falling wedge pattern forming.

Support Levels:

Immediate: 22,145.30

Strong: 22,024.35 & 21,900.35

Resistance Levels:

Immediate: 22,201.15

Strong: 22,230.20 & 22,320.90

Target & Stop-Loss:

Bullish breakout above 22,168 → Target 22,201 & 22,230

Bearish breakdown below 22,145 → Target 22,024

Stop-Loss: Below 22,145 for long trades; Above 22,168 for short trades

Medium-Term View (Few Days to Weeks)

Trend: Currently bearish but could reverse if it breaks 22,201.15

Target Levels:

If NIFTY futures break above 22,230, the next target is 22,320

If it fails, it could retest 22,024 or lower levels

RSI Observation:

RSI around 46, indicating neutral momentum.

A move above 50 could signal a reversal.

Long-Term View (Weeks to Months)

Trend: As of now, facing resistance at 22,320; any break above it could push towards 22,379

Crucial Long-Term Support: 21,900

Overall: Holding above 22,230 would indicate bullish momentum; falling below 22,024 could trigger deeper correction.

Conclusion & Trading Plan

Short-term bullish if it breaks 22,168 with a target of 22,201

Medium-term cautious—trend reversal above 22,230 or downside towards 22,024

Long-term bullish only above 22,320; below 21,900, it could go into a deeper correction