**NIFTY Technical Analysis and Trading Scenarios**
*NIFTY Price Action Overview:*
Following resistance in the range of 21480 - 21436 after reaching an all-time high (ATH), NIFTY is currently exhibiting a sideways trading pattern, with a subtle indication of cooling down noted in the last trading session.
*Potential Trading Scenarios:*
1. **Upside Breakout:**
- If NIFTY opens above 21480 and sustains trading beyond 21500, a buying trade is a consideration. Set the stop-loss (SL) at 21466 (15-minute candle close) for a target range of 21604 - 21650. Caution is advised as prices may encounter resistance in this zone.
2. **Flat to Negative Opening:**
- In the scenario of a flat to negative opening, initial support is expected around 21380 - 21340. Consider a buying trade within this range, with the SL set at 21420 (15-minute candle close) for a target range of 21466 - 21500.
3. **Bearish Movement:**
- If bearish momentum persists, and prices break below 21400, a short-side trade becomes a consideration. Set the SL at 21450 for a target of 21232.
*Conclusion:*
NIFTY's current trading behavior necessitates a flexible strategy, adapting to different opening scenarios. Traders should closely monitor key levels, exercise caution, and employ sound risk management practices to navigate the market effectively.
*Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Traders are encouraged to conduct their own research and consult with financial professionals before making trading decisions.*
*NIFTY Price Action Overview:*
Following resistance in the range of 21480 - 21436 after reaching an all-time high (ATH), NIFTY is currently exhibiting a sideways trading pattern, with a subtle indication of cooling down noted in the last trading session.
*Potential Trading Scenarios:*
1. **Upside Breakout:**
- If NIFTY opens above 21480 and sustains trading beyond 21500, a buying trade is a consideration. Set the stop-loss (SL) at 21466 (15-minute candle close) for a target range of 21604 - 21650. Caution is advised as prices may encounter resistance in this zone.
2. **Flat to Negative Opening:**
- In the scenario of a flat to negative opening, initial support is expected around 21380 - 21340. Consider a buying trade within this range, with the SL set at 21420 (15-minute candle close) for a target range of 21466 - 21500.
3. **Bearish Movement:**
- If bearish momentum persists, and prices break below 21400, a short-side trade becomes a consideration. Set the SL at 21450 for a target of 21232.
*Conclusion:*
NIFTY's current trading behavior necessitates a flexible strategy, adapting to different opening scenarios. Traders should closely monitor key levels, exercise caution, and employ sound risk management practices to navigate the market effectively.
*Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Traders are encouraged to conduct their own research and consult with financial professionals before making trading decisions.*