Nifty 50 chart down step-by-step, using technical view, pivot levels, and a brief fundamental view so you get a clear idea of target and stop-loss zones.
- Technical View From the chart:
Fibonacci Retracement:
0% → 24,540.35 (support)
50% → 24,576.35 (mid-level)
61.8% → 24,584.85 (resistance)
100% → 24,612.40 (recent swing high)
Price Action:
Price recently tested 24,612 and rejected sharply.
Currently trading near 24,592 which is close to the 61.8% Fib level (important resistance).
Support zone lies around 24,576 (Fib 50%) and 24,540 (Fib 0%).
Bias:
If price sustains above 24,585–24,590, it can retest 24,612 (intraday bullish).
If it fails to hold above 24,576, selling pressure could drag it to 24,540.
- Pivot Level Analysis Typical Pivot Point Formula (R1, R2, S1, S2):
Pivot (P) = (High + Low + Close) / 3
In this chart, pivot zone appears near 24,584–24,586 (aligning with 61.8% Fib).
R1 → Around 24,612
S1 → Around 24,576
S2 → Around 24,540
Trade Plan with Pivot:
Above R1 (24,612) → Next target ~24,635–24,640.
Below S1 (24,576) → Next target ~24,540.
- Target & Stop Loss Bullish Setup (If breakout above 24,612)
Entry: 24,613+
Target 1: 24,635
Target 2: 24,650+
Stop Loss: 24,585
Bearish Setup (If breakdown below 24,576)
Entry: 24,575-
Target 1: 24,555
Target 2: 24,540
Stop Loss: 24,590
- Fundamental View Nifty sentiment is influenced by macroeconomic cues, corporate earnings, and global market trends.
Current range-bound movement suggests no major fundamental trigger right now — likely awaiting cues like inflation data, global indices movement, or RBI updates.
Any positive macro news could push above resistance; negative cues may lead to support breakdown.
✅ Summary Trade Idea:
Range to Watch: 24,576 – 24,612.
Break above → Bullish targets.
Break below → Bearish targets.
Use tight stop losses because price is in a choppy zone near Fibonacci & pivot convergence.
Nifty 50 chart into short-term, medium-term, and long-term perspectives by combining the current technical picture with broader market context.
- Short-Term View (Intraday to 1 Week) Current Price Zone: 24,576 – 24,612 is the key battle area (Fib + Pivot convergence).
Bullish Trigger: Sustained close above 24,612 → 24,635, then 24,650–24,680.
Bearish Trigger: Break below 24,576 → 24,555, then 24,540.
Bias: Sideways-to-bullish as long as price stays above 24,576; intraday dips may get bought.
Stop Loss Zone for Bulls: Below 24,576.
Stop Loss Zone for Bears: Above 24,612.
- Medium-Term View (1 Week to 1 Month) Trend Structure: Higher highs and higher lows intact on 1H and 4H charts; market in a consolidation phase after a rally.
Support Levels:
Primary → 24,540
Secondary → 24,480–24,500 zone (previous swing low cluster)
Resistance Levels:
Primary → 24,680
Secondary → 24,750 (previous high)
Bias: Bullish unless 24,480 is broken on a closing basis.
Potential Swing Targets:
Upside → 24,680 → 24,750+
Downside → 24,480 → 24,420
- Long-Term View (1 Month to 3 Months) Trend: Strong uptrend on daily & weekly charts; market respecting 50-day EMA as dynamic support.
Key Supports:
24,300 (major support & long-term demand zone)
24,000 (psychological + trendline support)
Key Resistances:
24,900 (psychological level)
25,000+ (round-number breakout target)
Bias: Bullish, provided global macros remain stable and earnings season supports sentiment.
Long-Term Swing Targets:
Upside → 24,900 → 25,200
Downside → 24,300 → 24,000 (if correction deepens)
💡 Big Picture Summary
Short-Term → Range-bound between 24,576–24,612; breakout/breakdown will set direction.
Medium-Term → Positive bias toward 24,750 unless 24,480 is broken.
Long-Term → Bullish trend intact; watch for 25,000 as a major milestone
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