Nifty 50 – Immediate Trend Analysis (Hourly Chart)
On the hourly chart, Nifty 50 is exhibiting a clear downtrend, forming a pattern of lower highs and lower lows—signaling weakness in the immediate term.
The index has now approached a crucial support zone, which held strong multiple times during May and June, leading to a notable upside reversal in the past. This makes the current level a key inflection point.
If this support level holds, a short-term bounce is likely.
However, a break below this zone could accelerate the decline, potentially taking the index quickly towards the 24,000 level.
Key Takeaway:
Monitor this support zone closely for confirmation of a bounce or a breakdown to position accordingly.
#Nifty50 #NiftyAnalysis #TechnicalAnalysis #StockMarketIndia #NiftySupport #HourlyChart #Downtrend #MarketUpdate #NSE #IndexWatch #TradingStrategy #BreakdownOrBounce #PriceAction #ChartAnalysis #NiftyLevels
On the hourly chart, Nifty 50 is exhibiting a clear downtrend, forming a pattern of lower highs and lower lows—signaling weakness in the immediate term.
The index has now approached a crucial support zone, which held strong multiple times during May and June, leading to a notable upside reversal in the past. This makes the current level a key inflection point.
If this support level holds, a short-term bounce is likely.
However, a break below this zone could accelerate the decline, potentially taking the index quickly towards the 24,000 level.
Key Takeaway:
Monitor this support zone closely for confirmation of a bounce or a breakdown to position accordingly.
#Nifty50 #NiftyAnalysis #TechnicalAnalysis #StockMarketIndia #NiftySupport #HourlyChart #Downtrend #MarketUpdate #NSE #IndexWatch #TradingStrategy #BreakdownOrBounce #PriceAction #ChartAnalysis #NiftyLevels
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.