NIFTY INDEX FUTURES – TECHNICAL VIEW (Based on the shared chart)
Trend Analysis Immediate Trend: Bearish / Weak
Price is moving inside a descending channel (lower high–lower low structure).
Repeated rejection from the falling trendline confirms sellers’ dominance.
No strong bullish reversal signal yet.
Key Technical Observations Price is below short-term moving averages, indicating weak momentum.
Selling pressure increases near the upper channel line.
Volumes spike on declines → distribution, not accumulation.
Market is consolidating near lower channel support → make-or-break zone.
Support Levels S1: 26,150 – 26,140 (Immediate & critical)
S2: 26,100
S3: 26,050 (Channel breakdown level)
Breakdown below 26,140 can accelerate selling.
Resistance Levels R1: 26,175 – 26,180 (Near trendline)
R2: 26,220
R3: 26,270 (Major supply zone)
Sustained move above 26,220 needed for trend reversal.
Trade Setup – Short Bias (Preferred) SELL BELOW: 26,140 TARGETS:
T1: 26,100
T2: 26,050
STOP LOSS: 26,185
Logic: Channel continuation + lower high structure.
Alternate Buy Scenario (Only on Confirmation) BUY ONLY IF: Price sustains above 26,220 TARGETS:
T1: 26,270
T2: 26,320
STOP LOSS: 26,165
Short-Term View (1–3 Days) Bias: Bearish to sideways
Sell-on-rise strategy near resistance.
Expect volatility near channel support.
Medium-Term View (1–3 Weeks) Trend remains negative unless 26,300+ is reclaimed.
Below 26,100 → opens deeper correction zone.
Bullish outlook only above 26,350 with volume.
Conclusion Trend favors SELL on rise
Support is weak and repeatedly tested
Buyers lack strength at resistance
Trade with strict stop-loss and position sizing
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