📉 Current Status:
Last Close: 25,517.05
Daily Change: -120.75 points (-0.47%)
Candle: Bearish engulfing after strong up-move – sign of short-term weakness or profit booking.
📊 Key Levels:
🔺 Upside (Resistance/Breakout Levels):
R1: 25,615 – Immediate resistance
R2: 25,789 – Breakout confirmation
R3: 25,909
R4: 25,985 – Breakout Target
🔻 Downside (Support/Breakdown Levels):
S1: 25,517 – Current price (acting weak)
S2: 25,415 – Next major support (also aligns with previous resistance now flipped)
S3: 25,305 – Breakdown Target
S4: 25,201 – Major support near 38.2% Fibonacci
Buy Zone: 25,408 – 25,215
SL for Longs: 24,810
SL for Shorts: 25,600
🔄 Fibonacci Levels:
0.236: 25,391
0.382: 25,217 (important)
0.5: 25,045
0.618: 24,834
📌 Zones Highlighted on Chart:
Decision Zone: 25,552–25,600
(Current candle closed below = bearish bias)
Sell Trigger: Below 25,517 = test of lower supports
Breakdown Target: 25,305 and then 25,201
🔮 Nifty 50 Movement Outlook (Next 1–3 sessions):
✅ Bullish if:
Holds above 25,600 and breaks 25,789
⇒ Target: 25,985+
❌ Bearish if:
Falls below 25,517, especially if breaks 25,415
⇒ Target: 25,305 – 25,201
⇒ SL for fresh shorts: Above 25,600
🔧 Technical Indicators (visible on chart):
RSI near 64: Still strong but overbought territory
MACD: Looks like crossover already happened – momentum bullish, but waning
Bollinger Bands: Price hit upper band and retraced – classic mean reversion setup
📘 Strategy Suggestion:
🔸For Traders:
Short near 25,517–25,552 with SL at 25,600, target: 25,305 / 25,201
Longs only above 25,600–25,615, confirmation above 25,789
🔸For Investors:
Wait near Buy Zone: 25,215–25,408
Accumulate in dips near 25,200–25,000 if broader trend remains strong.
Anish Jagdish Parashar
Indirect tax india research
Disclaimer:Content reflects author's views;for investment decisions and trading proposes consult your financial advisor
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