Nifty forming a falling wedge
Nifty is currently forming a falling wedge pattern, with key support at 22,600. If this level holds and a bounce occurs, a breakout on the upside is likely, with 23,300 acting as a major resistance.
The crucial levels to watch are 22,600 on the downside and 23,300 on the upside. A breakdown below 22,600 with high volumes could trigger further selling, pushing Nifty towards 21,700–21,200. Conversely, a breakout above 23,300 with strong volumes and sustained momentum would signal the end of the correction. These levels will be decisive for Nifty’s next move.
The crucial levels to watch are 22,600 on the downside and 23,300 on the upside. A breakdown below 22,600 with high volumes could trigger further selling, pushing Nifty towards 21,700–21,200. Conversely, a breakout above 23,300 with strong volumes and sustained momentum would signal the end of the correction. These levels will be decisive for Nifty’s next move.
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