NIFTY 50 – Trendline Breakdown! What's Next?

The NIFTY 50 has broken below a key rising trendline, signaling a potential end to the recent bullish momentum. This breakdown is supported by price action, volume analysis, and open interest data, indicating a shift in market structure.

📊 Chart 1: OI + Volume Profile Insights

• Heavy Call OI buildup near 24,800–25,000, creating a strong resistance zone.
  
• Price rejected from this area and broke below the ascending trendline.
  
• Breakdown came with increased selling interest and a low volume node below 24,500, which could trigger a swift move downward.
  
• Multiple expiry OI clusters confirm the bearish bias in the near term.
  

📈 Chart 2: Price Action + Volume Structure

• Rising channel/wedge decisively broken on high volume.
  
• Key support at 24,400–24,500 is being tested.
  
• Below this zone, next supports lie at:
  23,750 (horizontal demand zone)
  23,048 (Feb–March consolidation zone)
  22,771 (weekly demand)
  
• Volume indicates increased participation at the top — possibly distribution.
  

⚙️ Trade Setups

🔻 Bearish Breakdown

• Entry Trigger: Below 24,500
  
• Targets: 24,200 → 23,750 → 23,050
  
• Stop Loss: 24,620
  

🔁 Bullish Reversal

• Entry Trigger: Close above 24,800
  
• Targets: 25,000 → 25,200
  
• Stop Loss: 24,600
  

⚠️ Rangebound Watch

• Entry Trigger: Between 24,500–24,800
  
• Targets: Wait & react
  
• Stop Loss: –
  

🧠 Summary
This is more than a minor dip — it's a technical structure break:

• ✅ Trendline lost
  
• ✅ Rising wedge breakdown
  
• ✅ OI resistance above
  
• ✅ Volume confirming shift
  

Unless the bulls reclaim 24,800+ soon, the path of least resistance appears downward.


💬 What’s your bias — breakdown or bounce? Share your view in the comments.