NIFTY 50 OVERVIEW

 

Based on the provided image from LKP Securities, here's the technical view with target and stop loss analysis for NIFTY:

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🔍 Technical View Summary (As per LKP)

• Current NIFTY Spot: 24,543

• Key Short-Term Support: 24,500

• Resistance Zone: 24,700–24,750

• Immediate Downside Target if 24,500 breaks: 24,000

• Outlook: Consolidation phase continues; market is awaiting clarity from RBI’s interest rate decision.

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🎯 Target & Stop Loss Levels

Scenario	Action	Target	Stop Loss
Bullish (If 24,500 holds)	Buy / Long	24,700 – 24,750	24,450
Bearish (If 24,500 breaks)	Sell / Short	24,000	24,600

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📈 Daily Pivot Levels

• Pivot Point (PP): 24,630

• Support Levels:

  • S1: 24,415

  • S2: 24,287

• Resistance Levels:

  • R1: 24,758

  • R2: 24,973

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🔧 Trend Setup Insights

• NIFTY is trading in a tight range (consolidation), as shown in the red box on the chart.

• Holding above 24,500 suggests a possible rebound towards upper resistance levels (R1/R2).

• Breaking below 24,500 would signal a breakdown from this range, with a bearish trend targeting 24,000.

• RSI is in neutral territory, showing lack of strong momentum.

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🕒 Timeframe Guidance

• Intraday to Short-Term: Key action expected around 24,500 level.

• Short-Term Positioning: Watch RBI commentary; any news-based movement can break consolidation.

• Medium-Term: Needs breakout above 24,750 for a stronger rally.