NIFTY Technical Analysis (Educational Purpose Only)📌Not a SEBI Registered Research Analyst – For educational/chart discussion only
Nifty Rounding Top chart pattern in hourly timeframe
NIFTY is facing strong resistance near ~26,200, where price has struggled to stay above. Recent price action shows a rounding top-like pattern forming at this key resistance zone.
Support Levels:
• Immediate support is at 25,750 – 25,700 where price has bounced multiple times.
• This zone is important: a clean break below it signals increased downside pressure.
Momentum (RSI & Candles):
• RSI shows weak momentum near highs and is not making strong new highs even as price hits resistance – indicating loss of upside strength.
• Near resistance, bearish/weak candles with upper wicks suggest supply outweighs demand.
Pattern Interpretation:
• A rounding top suggests a slow shift from buyers to sellers near the 26,200 zone.
• If price breaks below 25,750–25,700, this pattern becomes more valid and may lead to further downside.
• Using the pattern measurement rule, the target on breakdown could be around 25,000 area. (Educational projection)
Key Levels:
📍 **Resistance: ~26,200
📍 Support: 25,750–25,700
📍 Pattern Target (if support breaks): ~25,000
What to Watch Next:
✔ Break & close below 25,750–25,700 — increases probability of lower continuation.
✔ Strong hold above 25,700 — keeps the structure undecided and may lead to range or reversal if momentum improves.
📌 Summary (Simple):
NIFTY is forming a rounding top around **26,200 resistance**. Support at **25,750–25,700** is crucial. Due to weak momentum and supply near resistance, breaking below this support may push price toward **~25,000**. This is an **educational technical analysis**, not a buy/sell recommendation.
