As we discussed before 1 month
Nifty react as well as my Analysis
Nifty 50 Analysis – Here’s a detailed breakdown of the chart and its implications:
️Key Observations
1. Accumulation Zone (22,625 – 22,821)
This zone is a “best price range for long-term investment.”
Historically, accumulation zones indicate a potential demand area where institutional buyers may step in.
If the index holds this level, we could see an upward movement .
2. Strong Resistance Zone (23,050 – 23,178)
The chart suggests this area is a potential reversal point.
If Nifty reaches this level, profit booking or selling pressure may emerge.
A breakout above this zone could signal further bullish momentum .
3. Projected Price Action (Wave Structure)
The pattern (A → D → F) suggests a possible bounce from accumulation to resistance.
If resistance is broken, Nifty could rally further.
Trading Strategy
Bullish View:
If Nifty holds above 22,625, it could move toward 23,050 – 23,178.
A breakout above 23,178 may signal a continued uptrend .
Bearish View:
A breakdown below 22,625 could lead to further declines .
If this happens, new support levels need to be identified.
Disclaimer: I am not a SEBI-registered analyst. Stock markets are subject to market risks. Please do your own research before investing.