Nifty 50 Daily Chart Analysis (Heikin Ashi)
Nifty is trading around 23,437, showing a strong short-term rebound from recent lows near 22,260. The price has moved above the red SuperTrend resistance cloud and is now testing key Fibonacci levels.
Key Observations:
SuperTrend Cloud has turned green again, suggesting a bullish shift in trend.
Fibonacci Levels:
0.236 at 22,802 (strong support).
0.382 at 23,454 — current price is near this resistance zone.
0.5 at 23,981 and 0.618 at 24,508 are higher resistance levels to watch.
Trendline Resistance (dashed line) is approaching — a breakout above that could confirm further upside.
EMA Stack Strength Meter is turning positive (green) again, showing improving momentum.
Volume remains stable, no major spikes yet.
Summary:
Short-Term: Bullish momentum is picking up. Break above 23,500 can lead to a move toward 24,000+.
Medium-Term: Watch for a clean break and close above 23,981 to confirm trend reversal.
Downside Risk: If price fails to hold 23,200–23,000 zone, it could retest 22,800 support.
The trend is cautiously bullish but facing resistance. Bulls need follow-through above 23,500–24,000 for sustained upside.
Nifty is trading around 23,437, showing a strong short-term rebound from recent lows near 22,260. The price has moved above the red SuperTrend resistance cloud and is now testing key Fibonacci levels.
Key Observations:
SuperTrend Cloud has turned green again, suggesting a bullish shift in trend.
Fibonacci Levels:
0.236 at 22,802 (strong support).
0.382 at 23,454 — current price is near this resistance zone.
0.5 at 23,981 and 0.618 at 24,508 are higher resistance levels to watch.
Trendline Resistance (dashed line) is approaching — a breakout above that could confirm further upside.
EMA Stack Strength Meter is turning positive (green) again, showing improving momentum.
Volume remains stable, no major spikes yet.
Summary:
Short-Term: Bullish momentum is picking up. Break above 23,500 can lead to a move toward 24,000+.
Medium-Term: Watch for a clean break and close above 23,981 to confirm trend reversal.
Downside Risk: If price fails to hold 23,200–23,000 zone, it could retest 22,800 support.
The trend is cautiously bullish but facing resistance. Bulls need follow-through above 23,500–24,000 for sustained upside.
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.