NIFTY 50 OVERVIEW WITH EXPIRY PURPOSE TREND AND VIEW

 

Nifty 50 (30-min chart) you’ve shared step by step with target, stop loss, support/resistance, trend view, and expiry outlook:

🔎 Technical View Current Price (CMP): 24,592

SMA 21 (short-term avg): 24,850 → Nifty is trading below SMA, showing weakness.

RSI (14): ~18.8 → Oversold zone, meaning downside momentum is strong but a bounce is also possible soon.

Trend: Short-term trend looks bearish (lower highs, lower lows).

📊 Support & Resistance Immediate Resistance:

24,850 – 24,900 (near SMA & last breakdown level)

25,200 – 25,250 (major supply zone)

Immediate Support:

24,450 – 24,500 (marked green zone; demand area)

24,300 (next strong support if breakdown continues)

🎯 Target & Stop Loss If Short Position (Bearish view):

Entry: Below 24,600

Target 1: 24,450

Target 2: 24,300

Stop Loss: Above 24,850 (21-SMA & breakdown level)

If Long Position (Bounce Play): (only if 24,450 holds)

Entry: Near 24,450–24,500 with bullish candle confirmation

Target 1: 24,700

Target 2: 24,850

Stop Loss: Below 24,350

📈 Trend View Short Term: Bearish till 24,450 holds, after which a bounce is likely.

Medium Term: Sideways to negative (25,200 strong resistance).

Long Term: Still bullish above 24,200; correction phase but primary uptrend intact.

⏳ Expiry Outlook (Weekly) Market looks weak going into expiry.

Likely expiry range: 24,450 – 24,800.

Bias: Bearish to sideways, unless sharp short-covering bounce happens from oversold RSI.

✅ Profit Strategy:

Safer trade is short below 24,600 with target 24,450/24,300.

If RSI-driven bounce comes at 24,450, go long for 200–300 pts recovery.