Nifty 50 IndexLong
#NIFTY50 TRADE SETUP - 30TH DECEMBER !!
Nifty 50 Chart Analysis - 1 day Chart VieW
NIFTY
Nifty 50 Chart Analysis - Detailed Breakdown
Key Observations:
1. Current Price Zone: The Nifty index is trading at 23,832, with the price consolidating near recent lows.
2. Key Resistance Zones:
- 24,197.50: A significant resistance level, aligning with prior price rejections and a potential reversal area.
- 24,069.95: Intermediate resistance that needs to be cleared for bullish continuation.
3. Key Support Zones:
- 23,586.25: A strong support zone where buyers might step in, preventing further downside.
- 23,262.15: A deeper support level, marking the lower boundary of the recent bearish structure.
4. Market Sentiment: The price action indicates uncertainty, with equal probabilities of breakout above the resistance or breakdown below support.
Price Movement Summary:
Trading Plan:
1. Bullish Plan:
- Entry: Above 24,069.95.
- Target 1: 24,197.50.
- Target 2: 24,300+.
- Stop-Loss: Below 23,961.55 (current pivot zone).
2. Bearish Plan:
- Entry: Below 23,586.25.
- Target 1: 23,536.60.
- Target 2: 23,262.15.
- Stop-Loss: Above 23,832.45.
Summary:
- Nifty is at a critical juncture, with immediate resistance at 24,069.95 and support at 23,586.25.
- Traders should wait for confirmation (breakout or breakdown) before initiating positions.
- Risk management is crucial as the index approaches year-end volatility.
Disclaimer:
This content is for educational purposes only. It is not a recommendation to buy or sell any financial instrument.The creator is not a SE-BI-registered advisor. Please consult with a certified professional before making investment decisions.
NIFTY Nifty 50 Chart Analysis - Detailed Breakdown
Key Observations:
1. Current Price Zone: The Nifty index is trading at 23,832, with the price consolidating near recent lows.
2. Key Resistance Zones:
- 24,197.50: A significant resistance level, aligning with prior price rejections and a potential reversal area.
- 24,069.95: Intermediate resistance that needs to be cleared for bullish continuation.
3. Key Support Zones:
- 23,586.25: A strong support zone where buyers might step in, preventing further downside.
- 23,262.15: A deeper support level, marking the lower boundary of the recent bearish structure.
4. Market Sentiment: The price action indicates uncertainty, with equal probabilities of breakout above the resistance or breakdown below support.
Price Movement Summary:
- - Upside Potential: A breakout above 24,197.50 could push the index towards 24,300+ levels. Thiszone has been highlighted in the chart as a bullish target area (marked in red box).
- - Downside Risk: If the index breaks below 23,586.25, it could test 23,262.15 or lower, as depictedin the bearish target zone.
Trading Plan:
1. Bullish Plan:
- Entry: Above 24,069.95.
- Target 1: 24,197.50.
- Target 2: 24,300+.
- Stop-Loss: Below 23,961.55 (current pivot zone).
2. Bearish Plan:
- Entry: Below 23,586.25.
- Target 1: 23,536.60.
- Target 2: 23,262.15.
- Stop-Loss: Above 23,832.45.
Summary:
- Nifty is at a critical juncture, with immediate resistance at 24,069.95 and support at 23,586.25.
- Traders should wait for confirmation (breakout or breakdown) before initiating positions.
- Risk management is crucial as the index approaches year-end volatility.
Disclaimer:
This content is for educational purposes only. It is not a recommendation to buy or sell any financial instrument.The creator is not a SE-BI-registered advisor. Please consult with a certified professional before making investment decisions.
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.