Nifty will revise
NIFTY Trend Analysis with Key Levels:
This chart provides an analysis of NIFTY's price movement within a descending channel, indicating a bearish trend. The following levels are highlighted:
Resistance Levels:
24,358: This is a significant major resistance zone. A breakout above this level could confirm a trend reversal and signal a shift to bullish momentum.
24,800: The next key resistance level after a breakout, marking a potential target for bullish movements.
Support Levels:
23,581: NIFTY is currently at this support level. Holding this zone could trigger a rebound.
23,400: A breakdown below this level could result in further downside momentum, confirming bearish dominance.
Trend Structure:
Descending Channel: The price is moving within a well-defined channel. Traders should watch for a breakout above the resistance line for a bullish signal or a breakdown below the support line for continued bearish momentum.
Scenario Setup:
If 24,358 is broken, the next target could be around 24,800.
If 23,581 or 23,400 breaks, the lower target could be 23,200.
This chart is a critical watchlist for trend confirmation, providing opportunities for breakout and reversal trades.
This chart provides an analysis of NIFTY's price movement within a descending channel, indicating a bearish trend. The following levels are highlighted:
Resistance Levels:
24,358: This is a significant major resistance zone. A breakout above this level could confirm a trend reversal and signal a shift to bullish momentum.
24,800: The next key resistance level after a breakout, marking a potential target for bullish movements.
Support Levels:
23,581: NIFTY is currently at this support level. Holding this zone could trigger a rebound.
23,400: A breakdown below this level could result in further downside momentum, confirming bearish dominance.
Trend Structure:
Descending Channel: The price is moving within a well-defined channel. Traders should watch for a breakout above the resistance line for a bullish signal or a breakdown below the support line for continued bearish momentum.
Scenario Setup:
If 24,358 is broken, the next target could be around 24,800.
If 23,581 or 23,400 breaks, the lower target could be 23,200.
This chart is a critical watchlist for trend confirmation, providing opportunities for breakout and reversal trades.
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