Technical Analysis of Nifty 50 (1-Min Chart)
- 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
- 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.
- 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
- 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.
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