The Nifty 50 Index on the weekly chart has been consolidating within a defined range for the last 5 weeks, as highlighted in the green box. Here's a quick breakdown:
1. Next Week Ascending CPR (Central Pivot Range)
Implication: An ascending CPR suggests bullish sentiment. It indicates that price action is likely to trend upward, especially if the index stays above or bounces from the CPR.
CPR levels are moving higher week over week, showing positive price structure and strengthening momentum.
2. Weekly Golden Pivot Zone
The golden pivot zone (between Weekly CPR and S1) is considered a strong support zone.
In the chart, price bounced sharply from that zone, confirming its strength.
It now acts as a demand zone. As long as the price remains above this zone, bullish momentum is intact.
What the Monthly CPR Suggests:
✅ Bullish Bias for June-July:
Price above CPR + strong bounce from the buy reversal zone = continuation of uptrend is likely.
As long as price holds above 24,600 (CPR center) or 24,426 (L3 Buy Reversal), expect higher highs.
⚠️ Key Trigger Levels:
Bullish Breakout Trigger: Above 25,400 (M-H4)
Bearish Reversal Caution: Below 24,426 may indicate weakness, especially if it breaks 24,101 (L4).
Strategy Insights:
Buy on Dips: If Nifty pulls back near the CPR zone (~24,600–24,800), it offers a potential long entry.
Upside Targets: 25,276 → 25,400 → 25,781
Avoid Shorts unless price closes below 24,600 with strong volume.
1. Next Week Ascending CPR (Central Pivot Range)
Implication: An ascending CPR suggests bullish sentiment. It indicates that price action is likely to trend upward, especially if the index stays above or bounces from the CPR.
CPR levels are moving higher week over week, showing positive price structure and strengthening momentum.
2. Weekly Golden Pivot Zone
The golden pivot zone (between Weekly CPR and S1) is considered a strong support zone.
In the chart, price bounced sharply from that zone, confirming its strength.
It now acts as a demand zone. As long as the price remains above this zone, bullish momentum is intact.
What the Monthly CPR Suggests:
✅ Bullish Bias for June-July:
Price above CPR + strong bounce from the buy reversal zone = continuation of uptrend is likely.
As long as price holds above 24,600 (CPR center) or 24,426 (L3 Buy Reversal), expect higher highs.
⚠️ Key Trigger Levels:
Bullish Breakout Trigger: Above 25,400 (M-H4)
Bearish Reversal Caution: Below 24,426 may indicate weakness, especially if it breaks 24,101 (L4).
Strategy Insights:
Buy on Dips: If Nifty pulls back near the CPR zone (~24,600–24,800), it offers a potential long entry.
Upside Targets: 25,276 → 25,400 → 25,781
Avoid Shorts unless price closes below 24,600 with strong volume.
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.