📊 Nifty 50 Daily Chart Analysis
**Chart Summary (as of May 13, 2025):**
1. **Index Price:**
Nifty 50 is trading around **24,683.90**, showing a significant drop of **-346.35 points (-1.39%)**.
2. **Trendlines:**
* A **long-term downtrend line** has been broken recently, indicating a **bullish breakout**.
* Post-breakout, the price formed an **ascending channel**, respecting higher highs and higher lows.
3. **Support & Resistance:**
* Strong support levels are observed at **22,792**, **21,880**, **20,262**, and **19,994**.
* Immediate resistance zone near **25,200–25,500**, where price is currently consolidating near the top channel line.
4. **Volume:**
* Volume shows increasing interest on bullish days and profit-booking near resistance.
* Recent red bars indicate **selling pressure**.
5. **Moving Average:**
* The **200-day SMA** is at **24,046**, and the price is well above it — a **bullish signal**.
6. **MACD (Momentum):**
* MACD is showing signs of **bullish crossover fade**, indicating that upward momentum may be cooling.
* Histogram bars are shrinking, suggesting a possible **reversal or consolidation**.
---
**Chart Summary (as of May 13, 2025):**
1. **Index Price:**
Nifty 50 is trading around **24,683.90**, showing a significant drop of **-346.35 points (-1.39%)**.
2. **Trendlines:**
* A **long-term downtrend line** has been broken recently, indicating a **bullish breakout**.
* Post-breakout, the price formed an **ascending channel**, respecting higher highs and higher lows.
3. **Support & Resistance:**
* Strong support levels are observed at **22,792**, **21,880**, **20,262**, and **19,994**.
* Immediate resistance zone near **25,200–25,500**, where price is currently consolidating near the top channel line.
4. **Volume:**
* Volume shows increasing interest on bullish days and profit-booking near resistance.
* Recent red bars indicate **selling pressure**.
5. **Moving Average:**
* The **200-day SMA** is at **24,046**, and the price is well above it — a **bullish signal**.
6. **MACD (Momentum):**
* MACD is showing signs of **bullish crossover fade**, indicating that upward momentum may be cooling.
* Histogram bars are shrinking, suggesting a possible **reversal or consolidation**.
---
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.