Nifty 50 OVER VIEW

 

Technical Analysis of Nifty 50 (1-Min Chart)

1. Support and Resistance Levels: Resistance: ₹23,305.60 (marked by the upper blue line)

Support Levels:

First Support: ₹23,210.85

Second Support: ₹23,143.55

2. Trend Analysis: The price is currently forming a symmetrical triangle pattern, indicating a potential breakout.

The Exponential Moving Average (EMA 44) is at ₹23,271.95, acting as a dynamic resistance.

If the price breaks above ₹23,305.60, it may continue an upward move.

If it breaks below ₹23,210.85, further downside movement is likely.

3. Target and Stop Loss Strategy: Bullish Scenario (Breakout Above ₹23,305.60):

Target: ₹23,350 - ₹23,375

Stop Loss: ₹23,250

Bearish Scenario (Breakdown Below ₹23,210.85):

Target: ₹23,150 - ₹23,125

Stop Loss: ₹23,275

4. RSI Analysis (Relative Strength Index): RSI is around 51.65, indicating a neutral momentum.

A breakout above 60 will confirm bullish momentum, while a dip below 40 will confirm bearish momentum.

Conclusion: Watch for a breakout from the symmetrical triangle.

If the price moves above ₹23,305.60, expect an upward rally.

If it falls below ₹23,210.85, expect a downward move.

Use proper stop losses to manage risk.

Nifty 50 Technical Analysis - Short, Medium & Long Term View Based on the 1-minute timeframe chart, let's analyze the trend and price movement for different time horizons.

🔹 Short-Term View (Intraday to Few Hours) Trend: Neutral to Slightly Bullish (Range-bound with breakout potential) Current Setup: The index is forming a symmetrical triangle, meaning consolidation is happening.

Key Levels:

Resistance: ₹23,305.60

Support: ₹23,210.85

Expected Movement:

If it breaks above ₹23,305.60, expect bullish momentum towards ₹23,350-₹23,375.

If it breaks below ₹23,210.85, expect a bearish move towards ₹23,150-₹23,125.

Bias: Wait for a breakout confirmation.

🔹 Medium-Term View (Few Days to a Week) Trend: Bullish but facing resistance The price is trading above ₹23,200, which acts as a strong support zone.

EMA 44 is trending upwards, suggesting buying momentum.

RSI around 51 suggests no extreme overbought/oversold conditions.

Expected Movement:

If it sustains above ₹23,305, it may move toward ₹23,450-₹23,500 in the coming sessions.

If it falls below ₹23,210, weakness could drag it to ₹23,100-₹23,050.

🔹 Long-Term View (Weeks to Months) Trend: Bullish (Higher Highs & Higher Lows) Larger trend remains positive with higher highs being formed.

Key Support Zone: ₹23,000 (if breached, downtrend risk increases).

Resistance Zone: ₹23,500 - ₹23,600.

As long as ₹23,100 holds, the uptrend remains intact.

Final Conclusion: Short-term: Sideways to slightly bullish; watch for breakout.

Medium-term: Bullish unless ₹23,210 is broken.

Long-term: Still bullish, unless major breakdown below ₹23,000 occurs.