Nifty50price movement, here is a clean technical breakdown:
📌 Current Market Status Price: Around 25,796
Trend: Market is currently in a descending channel pattern.
Price attempted a pullback but is still struggling to break above resistance.
🔍 Technical View The pattern shows lower highs and lower lows, meaning bears still hold control.
Price is below short-term moving averages → indicates weak momentum.
Support zones are holding, so consolidation before breakout is possible.
📍 Key Levels Type Level Immediate Resistance 25,845 – 25,880 Major Resistance 25,920 – 25,960 Immediate Support 25,750 Major Support Zone 25,680 – 25,720
🟩 Buy Trade Plan Condition Details Buy Above 25,840 breakout confirmation Targets 🎯 25,880 → 🎯 25,920 → 🎯 25,960 Stop Loss 25,750
⚠️ Buy only if price sustains above resistance with volume.
🟥 Sell Trade Plan Condition Details Sell Below 25,750 breakdown Targets 🎯 25,720 → 🎯 25,680 → 🎯 25,620 Stop Loss 25,840
This setup aligns with the visible descending channel and EMA rejection.
⏳ Trend Outlook Timeframe View Trend Short Term (Intraday - 1 Day) Weak 🔻 Down / Sideways Medium Term (1–2 Weeks) Neutral ⏸️ Range-Bound (25,600–26,000 zone) Long Term (1–3 Months) Positive 🔺 Uptrend still intact above 25,500 support
🎯 Summary Market still in a pullback phase inside a bearish channel.
Confirmation required for next move.
No comments:
Post a Comment