#Nifty Update (Daily):
CMP: 25,891.40
Following our previous update at 25,285, Nifty has decisively broken out above the Symmetrical Triangle pattern and surged to a high of 26,104 today. Price action formed a bearish candle but managed to close positively on the daily chart.
🔄 What to expect next?
A potential retest of breakout levels is likely as profit booking is expected after a strong rally of over 1,500 points from the swing low. Watch the key support zones closely for a possible bounce.
🔽 Support Zones to watch:
25,669 - 25,638
25,449 - 25,424
⚡️ If Nifty holds these levels and reverses, it could set the stage for a renewed upmove aimed at surpassing the all-time high (ATH) at 26,277.
🔼 Resistance Zones to watch:
26,104 (recent high)
26,216 - 26,277 (ATH)
📈 A sustained break above the ATH will confirm continuation toward the symmetrical triangle’s ultimate target near 26,700.
#Nifty | #Nifty50 | #BreakOutRetest | #SymmetricalTriangle | #ChartPatterns | #SwingTrading | #PriceAction
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
CMP: 25,891.40
Following our previous update at 25,285, Nifty has decisively broken out above the Symmetrical Triangle pattern and surged to a high of 26,104 today. Price action formed a bearish candle but managed to close positively on the daily chart.
🔄 What to expect next?
A potential retest of breakout levels is likely as profit booking is expected after a strong rally of over 1,500 points from the swing low. Watch the key support zones closely for a possible bounce.
🔽 Support Zones to watch:
25,669 - 25,638
25,449 - 25,424
⚡️ If Nifty holds these levels and reverses, it could set the stage for a renewed upmove aimed at surpassing the all-time high (ATH) at 26,277.
🔼 Resistance Zones to watch:
26,104 (recent high)
26,216 - 26,277 (ATH)
📈 A sustained break above the ATH will confirm continuation toward the symmetrical triangle’s ultimate target near 26,700.
#Nifty | #Nifty50 | #BreakOutRetest | #SymmetricalTriangle | #ChartPatterns | #SwingTrading | #PriceAction
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.