Decision Time for Nifty Watch This Zone

May 21

Hi mates, Sharing an idea on Nifty on the basis of current price action hope it will help you for making a decision for this index so as we can see that Nifty fifty is currently trading just below a key resistance zone that previously acted as a strong supply area. The highlighted green region marks a critical decision zone price could either bounce and reclaim higher levels, or break down toward lower support.

I have marked historical rejections and reaction points with arrows to reinforce the importance of this level. Short-term traders can use the support and resistance levels shown as potential targets, depending on which way the index resolves this zone.

Key Levels-:
Decision Zone: 24500 to 24200

Upside Target for bounce (Resistance) 25000

Downside Target for breakdown (Support) 23800

Rest data I will provide in update.

This publication is meant for educational purpose and not contains any kind of trading advice.
Best Regards-: Amit

May 22

Trade active

Price entred into marked decision (support) zone let's wait for a breakdown or bounce and that i will update accordingly, Still no trade is taken this update is only for alert.

But somehow once again I learnt how difficult it is to break any important resistance (25000) in one go because there is dual force applied there like on one hand those who buy from below take profit after seeing the resistance, while on the same resistance short sellers are ready to sell.

May 26

Trade closed: target reached

25000 again on board, will share new idea on index soon. Thanks for support mates.

May 27

Note

Resistance target still unbroken price did not sustain for even half an hour yesterday, The same thing I shared in Trade active update. Nice fall from there.