Nifty 50 is trading at 25,175, staying strong inside a rising parallel channel since early April. Price action is consolidating just below the key resistance zone at 25,301, which is also the upper boundary of the channel.
Key Levels:
🔼 Resistance Levels:
25,301 – Immediate resistance (channel top)
25,500+ – Possible breakout target if channel is breached
🔽 Support Levels:
24,700 – Channel midline and recent support
24,080 – 50-day moving average
22,792 – Previous major swing low
21,810 – Strong horizontal support zone
Indicators:
MACD is turning bullish again after a minor pullback, hinting at a possible continuation.
Volume has slightly decreased, signaling caution near the top.
Price is above both the 50-day and 200-day moving averages, supporting the bullish structure.
Conclusion:
Nifty is at a crucial juncture. A breakout above 25,301 could trigger further upside momentum, while failure to break may lead to a healthy pullback toward support zones. Keep a close eye on price action near the channel resistance for confirmation.
Key Levels:
🔼 Resistance Levels:
25,301 – Immediate resistance (channel top)
25,500+ – Possible breakout target if channel is breached
🔽 Support Levels:
24,700 – Channel midline and recent support
24,080 – 50-day moving average
22,792 – Previous major swing low
21,810 – Strong horizontal support zone
Indicators:
MACD is turning bullish again after a minor pullback, hinting at a possible continuation.
Volume has slightly decreased, signaling caution near the top.
Price is above both the 50-day and 200-day moving averages, supporting the bullish structure.
Conclusion:
Nifty is at a crucial juncture. A breakout above 25,301 could trigger further upside momentum, while failure to break may lead to a healthy pullback toward support zones. Keep a close eye on price action near the channel resistance for confirmation.
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.
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.