NIfty 50 , Daily chart analyses , price approaching major suppor
Nifty 50 Index – Daily Chart Analysis (Feb 18, 2025)
1. Trend & Market Structure
The Nifty 50 index remains in a long-term uptrend, with a well-respected upward trendline providing dynamic support.
The market recently pulled back from its all-time highs (~27,000) and is now testing a critical support zone (~22,750 - 23,000).
The price is currently sitting at the trendline support, making this a key decision point for buyers and sellers.
2. Key Levels to Watch
Support:
22,750 - 23,000 → Strong horizontal support and trendline intersection.
21,500 - 22,000 → Next major support if breakdown occurs.
Resistance:
24,500 - 25,000 → First hurdle if the market rebounds.
27,000+ → Major upside target if the trend continues.
3. Potential Trading Scenarios
📈 Bullish Scenario (Trendline Holds & Rebound)
If buyers step in at the current trendline, we could see a bounce back toward 24,500 - 25,000.
A breakout above 25,000 would confirm continuation of the long-term bullish trend.
📉 Bearish Scenario (Breakdown Below Support)
A break below 22,750 would indicate a loss of bullish momentum, potentially leading to a drop toward 21,500 - 22,000.
If further selling pressure increases, a trend reversal could be confirmed.
4. Volume & Market Sentiment
Volume is currently stable but not showing strong buying interest yet.
A surge in volume near the trendline could confirm whether bulls will defend this level.
Conclusion
Key Decision Point: 22,750 - 23,000 (Buyers need to defend this area).
Bullish Bias: Holding the trendline could lead to another rally toward new highs.
Bearish Risk: A breakdown could lead to a deeper pullback below 22,000.
1. Trend & Market Structure
The Nifty 50 index remains in a long-term uptrend, with a well-respected upward trendline providing dynamic support.
The market recently pulled back from its all-time highs (~27,000) and is now testing a critical support zone (~22,750 - 23,000).
The price is currently sitting at the trendline support, making this a key decision point for buyers and sellers.
2. Key Levels to Watch
Support:
22,750 - 23,000 → Strong horizontal support and trendline intersection.
21,500 - 22,000 → Next major support if breakdown occurs.
Resistance:
24,500 - 25,000 → First hurdle if the market rebounds.
27,000+ → Major upside target if the trend continues.
3. Potential Trading Scenarios
📈 Bullish Scenario (Trendline Holds & Rebound)
If buyers step in at the current trendline, we could see a bounce back toward 24,500 - 25,000.
A breakout above 25,000 would confirm continuation of the long-term bullish trend.
📉 Bearish Scenario (Breakdown Below Support)
A break below 22,750 would indicate a loss of bullish momentum, potentially leading to a drop toward 21,500 - 22,000.
If further selling pressure increases, a trend reversal could be confirmed.
4. Volume & Market Sentiment
Volume is currently stable but not showing strong buying interest yet.
A surge in volume near the trendline could confirm whether bulls will defend this level.
Conclusion
Key Decision Point: 22,750 - 23,000 (Buyers need to defend this area).
Bullish Bias: Holding the trendline could lead to another rally toward new highs.
Bearish Risk: A breakdown could lead to a deeper pullback below 22,000.
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.