🟢 Nifty EOD Analysis – May 2, 2025 (Friday)🔴
Another day... tug-of-war between buyers and sellers
📊 Nifty Summary
Another one-day tug-of-war between buyers and sellers. As usual, morning momentum — driven by buyers and short-covering — pushed the index into a bullish zone. However, profit booking and seller dominance dragged it back down, ultimately parking Nifty again in the 24,330 ~ 24,365 zone — now the 4th straight session closing within this narrow range.
Nifty opened on a bullish note at 24,311 and launched into a swift rally, breaching multiple resistance zones and clocking a new high at 24,589 within the first hour. However, the enthusiasm faded quickly. Sellers stepped in aggressively, and all the major support levels crumbled one by one. What started as a breakout turned into a breakdown.
The index drifted lower and spent the rest of the session stuck in a narrow zone of 24,330–24,365 — now for the fourth session in a row! The close at 24,346 reflects indecision and caution ahead of next week’s events.
📌 5 Min Time FrameChart
🕔 Intraday 5-Min Chart (Price Walkthrough)
🔹 Opened at 24,311 and rallied sharply to 24,589 — breaching multiple resistance zones.
🔹 Sellers took control and dragged the index back below 24,400.
🔹 Breakdown through all major support levels including PDH, CPR, and CDL.
🔹 Post-lunch session remained directionless between 24,330–24,365.
🔹 Fourth consecutive close inside this compression zone.
📌 75 Min Time FrameChart
⏱️ Intraday 75-Min Time Frame Chart
📐 First two candles formed a bullish setup, but the third candle completely reversed the gains, forming an Inside Bar breakdown trap. The remaining candles failed to break out of the previous range, with momentum fading.
⚠️ A breakout (or breakdown) from this compression is now imminent — keep your eyes on the next session for direction.
📌 Daily Time FrameChart
🕯️ Daily Time Frame Chart & Candle Breakdown
📈 Today’s Candle Type: Spinning Top with long upper wick
🟢 Open: 24,311.90
🔺 High: 24,589.15
🔻 Low: 24,238.50
🔚 Close: 24,346.70
📊 Change: +12.50 (+0.05%)
🧠 Know Your Candle:
A Spinning Top reflects market indecision — the long wicks show strong attempts by both bulls and bears, but neither managed to dominate.
Upper Shadow: 242.45 pts → Strong selling from highs
Lower Shadow: 73.40 pts → Mild buying near lows
Real Body: 34.80 pts → Modest positive close
🔍 Interpretation:
Despite an early morning breakout, the close back in the congestion zone signals a lack of directional strength. The long upper wick reflects failure to hold higher ground — bias slightly tilting bearish unless this zone is broken with conviction.
⚔️ Gladiator Strategy Update
📌 Strategy Parameters:
ATR: 317.21
IB Range: 270.30
IB Category: Medium IB
Market Structure: Balanced
📊 Trade Summary:
✅ 1st Trade (Long): Triggered at 9:25 – Target Achieved (1:2 RR)
❌ 2nd Trade (Short): Triggered at 12:25 – SL Hit
🔮 What’s Next?
The bias remains neutral to slightly bearish. Despite a strong upside in the first hour, the repeated failure to sustain above 24,400 and four closes within 24,330–24,365 suggest exhaustion.
A breakout from this tight coil should give a clear move — wait for confirmation.
📌 Support & Resistance Levels
🔺 Resistance:
24,330 ~ 24,360 (Immediate hurdle)
24,400 (PDH)
24,457
24,480 ~ 24,540
24,589 (CDH)
24760 ~ 24,800
🔻 Support:
24,190 ~ 24,225
24,120
24,050
24,000 ~ 23,950
23,820
23,710 ~ 23,660
23,500
23,410 ~ 23,370
23,215
💬 Final Thoughts
“Range traps continue to fool both sides — momentum without conviction is just noise.”
Watch the compression zone — a genuine breakout or closing above 24,365 or breakdown below 24,225 could bring clarity. Until then, trade light and watch levels.
✏️ Disclaimer
This is just my personal viewpoint. Always consult your financial advisor before taking any action.
Another day... tug-of-war between buyers and sellers
📊 Nifty Summary
Another one-day tug-of-war between buyers and sellers. As usual, morning momentum — driven by buyers and short-covering — pushed the index into a bullish zone. However, profit booking and seller dominance dragged it back down, ultimately parking Nifty again in the 24,330 ~ 24,365 zone — now the 4th straight session closing within this narrow range.
Nifty opened on a bullish note at 24,311 and launched into a swift rally, breaching multiple resistance zones and clocking a new high at 24,589 within the first hour. However, the enthusiasm faded quickly. Sellers stepped in aggressively, and all the major support levels crumbled one by one. What started as a breakout turned into a breakdown.
The index drifted lower and spent the rest of the session stuck in a narrow zone of 24,330–24,365 — now for the fourth session in a row! The close at 24,346 reflects indecision and caution ahead of next week’s events.
📌 5 Min Time FrameChart
🕔 Intraday 5-Min Chart (Price Walkthrough)
🔹 Opened at 24,311 and rallied sharply to 24,589 — breaching multiple resistance zones.
🔹 Sellers took control and dragged the index back below 24,400.
🔹 Breakdown through all major support levels including PDH, CPR, and CDL.
🔹 Post-lunch session remained directionless between 24,330–24,365.
🔹 Fourth consecutive close inside this compression zone.
📌 75 Min Time FrameChart
⏱️ Intraday 75-Min Time Frame Chart
📐 First two candles formed a bullish setup, but the third candle completely reversed the gains, forming an Inside Bar breakdown trap. The remaining candles failed to break out of the previous range, with momentum fading.
⚠️ A breakout (or breakdown) from this compression is now imminent — keep your eyes on the next session for direction.
📌 Daily Time FrameChart
🕯️ Daily Time Frame Chart & Candle Breakdown
📈 Today’s Candle Type: Spinning Top with long upper wick
🟢 Open: 24,311.90
🔺 High: 24,589.15
🔻 Low: 24,238.50
🔚 Close: 24,346.70
📊 Change: +12.50 (+0.05%)
🧠 Know Your Candle:
A Spinning Top reflects market indecision — the long wicks show strong attempts by both bulls and bears, but neither managed to dominate.
Upper Shadow: 242.45 pts → Strong selling from highs
Lower Shadow: 73.40 pts → Mild buying near lows
Real Body: 34.80 pts → Modest positive close
🔍 Interpretation:
Despite an early morning breakout, the close back in the congestion zone signals a lack of directional strength. The long upper wick reflects failure to hold higher ground — bias slightly tilting bearish unless this zone is broken with conviction.
⚔️ Gladiator Strategy Update
📌 Strategy Parameters:
ATR: 317.21
IB Range: 270.30
IB Category: Medium IB
Market Structure: Balanced
📊 Trade Summary:
✅ 1st Trade (Long): Triggered at 9:25 – Target Achieved (1:2 RR)
❌ 2nd Trade (Short): Triggered at 12:25 – SL Hit
🔮 What’s Next?
The bias remains neutral to slightly bearish. Despite a strong upside in the first hour, the repeated failure to sustain above 24,400 and four closes within 24,330–24,365 suggest exhaustion.
A breakout from this tight coil should give a clear move — wait for confirmation.
📌 Support & Resistance Levels
🔺 Resistance:
24,330 ~ 24,360 (Immediate hurdle)
24,400 (PDH)
24,457
24,480 ~ 24,540
24,589 (CDH)
24760 ~ 24,800
🔻 Support:
24,190 ~ 24,225
24,120
24,050
24,000 ~ 23,950
23,820
23,710 ~ 23,660
23,500
23,410 ~ 23,370
23,215
💬 Final Thoughts
“Range traps continue to fool both sides — momentum without conviction is just noise.”
Watch the compression zone — a genuine breakout or closing above 24,365 or breakdown below 24,225 could bring clarity. Until then, trade light and watch levels.
✏️ Disclaimer
This is just my personal viewpoint. Always consult your financial advisor before taking any action.
Blogs : substack.com/@kzatakia
Related publications
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.
Blogs : substack.com/@kzatakia
Related publications
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.