Nifty 50 Technical Analysis

Hello Traders,
I’m starting this thread to share and discuss Nifty 50 analysis with fellow traders and investors. The idea is to build a place where we can post charts, levels, trade ideas, and market insights specifically focused on the Nifty 50 index.
What you’ll find here:

1. Daily/weekly technical analysis (support/resistance, price action, candlestick patterns, etc.)
2. Fundamental updates and macroeconomic factors affecting the Indian markets
3. Intraday levels, swing trade setups, and breakout opportunities
4. Open discussion on strategies and risk management

Why this thread?
Nifty 50 is one of the most traded indices in the world and a great instrument for both intraday and positional trading. Yet, discussions on it are scattered. This thread will serve as a dedicated hub where traders can share knowledge and improve together.
How to participate:
Everyone is welcome to post their charts, opinions, or setups—whether you trade futures, options, or CFDs. Please keep the discussion constructive and trading-focused.
I’ll start by posting my latest Nifty 50 chart analysis below. Looking forward to your views and contributions!
Happy trading,
Suhas

Trend Analysis

1. The market is currently in a short-term downtrend.
   1. You can see a series of lower highs and lower lows forming after topping around 25,150–25,200.
   2. Recent candles are mostly red, showing persistent selling pressure.

Support & Resistance Zones

1. Immediate Support:
   1. 24,337 (green zone marked) → If price breaks below this, we could see further downside.

2. Immediate Resistance:
   1. 24,660 – 24,750 zone (grey shaded area in mid-chart).
   2. Stronger resistance above at 25,021 and 25,153 (highlighted in red).

Candlestick Behavior

1. Last few candles show strong bearish momentum with small bullish attempts failing to hold.
2. The most recent candle is a small-bodied candle after a decline, which may suggest temporary consolidation before the next move.

Possible Scenarios

1. Bearish Continuation (More Likely Right Now)
   1. If Nifty breaks below 24,337 support, next downside targets could be 23800

2. Bullish Reversal (If Support Holds)
   1. If price respects 24,337 and bounces, then it may test 24,600 – 24,750 resistance zone.
   2. A strong breakout above 24,750 would open room towards 25,000+ again.

Bias / Outlook

1. Short-term: Bearish (trend pressure is down).
2. Medium-term: Needs to hold 24,337 support for any bullish reversal attempt.

1. Price Action

1. Current price: ₹802.50
2. Price has been in a range-bound structure for several months (roughly between ₹780 – ₹840).
3. Recently, price is pulling back after testing the resistance zone near ₹835–₹842.50.

2. Support & Resistance Zones

1. Immediate Support Zone: ₹781 – ₹786
   1. Price is very close to this zone now, which has acted as a demand area in the past.

2. Next Supports:
   1. ₹755.50
   2. ₹730.00

3. Immediate Resistance Zone: ₹835 – ₹842.50
   1. Price has been rejected multiple times here, making it a strong supply zone.

3. Trend Outlook

1. Medium-term trend: Sideways (consolidation between ₹780 – ₹840).
2. Short-term trend: Weak, as recent candles show continuous selling pressure after rejection at the resistance.

4. Candlestick Observation

1. Recent candles are bearish with lower highs and lower lows.
2. The latest candle shows price testing support, suggesting possible short-term bounce if demand steps in.

5. Trading Plan

1. Bullish scenario:
   1. If price holds above ₹781–₹786 support, expect a rebound towards ₹820 → ₹835.
   2. Break above ₹842.50 would signal continuation of bullish momentum.

2. Bearish scenario:
   1. If price breaks ₹781 support zone, downside targets open towards ₹755 → ₹730.
   2. Sustained weakness below ₹730 would confirm breakdown of the range.

Summary:
SBIN is currently at a critical support zone (₹781–₹786). Holding above it may trigger a bounce, but a breakdown will expose lower supports at ₹755 and ₹730. Resistance remains strong at ₹835–₹842.50, so until this is broken, the stock will likely remain range-bound.

Nifty View for 5 Sept 2025

Chart Observations

1. Current Price: ~24,740 (at the dotted line).
2. Support Levels (Green Zones)
   1. 24,522 (nearest short-term support)
   2. 24,404 (secondary support)
   3. 24,337 (strong support zone, recent swing low)

3. Resistance Levels (Red Zones)
   1. 25,021 (immediate resistance)
   2. 25,154 (next resistance)
   3. 25,246 (major resistance / supply zone)

4. Trend
   1. The market was in a downtrend until late August.
   2. Recent candles show a pullback recovery, but now the index is facing resistance around 24,800–25,000 zone.
   3. The higher highs and higher lows in early September indicate a short-term bullish attempt, but sellers are active near resistance.

5. Candlestick Behavior
   1. Recent rejection wicks from 24,900 zone show supply pressure.
   2. If price stays below 24,800, bulls may lose momentum.

Trading View

1. Bullish Scenario:
   If Nifty sustains above 24,800, it can move towards 25,020 → 25,150 → 25,246.
   Confirmation: Strong bullish candles with volume.
2. Bearish Scenario:
   If Nifty fails to break 24,800 and slips below 24,520, expect a retest of 24,400 → 24,337.
   Confirmation: Breakdown candle below 24,520.
3. Neutral Zone:
   Between 24,520 – 24,800, expect sideways consolidation with choppy moves.

Summary:

1. Immediate range: 24,520 – 24,800
2. Breakout above 24,800 → Targets 25,020 – 25,246
3. Breakdown below 24,520 → Targets 24,400 – 24,337

Thanks so much sir. though I don't really good at this technical analysis, am still looking for mentor and still trying my best to meet up. but how you explain this price action and how you read chart really motivate me to make myself better. and its really helpful thanks once again sir